California pushes forward legislation for 50% target by 2030 for renewables
California legislators are pushing forward clean energy legislation that sets the target for electricity generated from renewable energy to 50% by 2030. This could be a great market incentive for geothermal development in California with the great experience and geothermal resources in the state.
In great news for the renewable energy sector in California, and also for the geothermal developers in the state, California is pushing forward on clean energy reforms.
As part of that, legislators are racing towards energy legislation that would “require the state to draw half its electricity from renewable-energy sources — the most aggressive target of its kind in the [the United States].”
The Senate of California passed legislation SB350 earlier this summer, but still requires approval from the Sate Assembly before the end of the legislative session next week.
Esssentially, the legislation – if passed – would require California to generate 50% of its electricity from wind, solar, geothermal and other renewables by 2030. This increases the target of 33% by 2020.
For geothermal projects this clearly provides a market incentive helping to maybe push some of them forward.
Source: International Business Times