California sets new ambitious renewable goal 50% by 20130
California's new ambitious renewable energy target of 50% by 2030, could create more interest in geothermal energy and spur development.
Following an unsuccessful attempt to go even further with among others enforcing a 50% drop in petroleum use by 2030, Jerry Brown, the Governor of California has now dramatically increased California’s climate-change goals this week, “committing the state to use renewable energy for half its electricity and make existing buildings twice as energy-efficient in just 15 years,” as reported by Philly.com.
He held a signing ceremony in Los Angeles this Wednesday. So far the state had set itself a mandate to derive one third of its electricity from renewables by 2020. The new mandate goes further. So far – so state regulators – the State derives 25% of its electricity from renewable eneryg.
There is though some opposition that raises the point that the complex regulations required to transition from fossil fuels to renewables will be costly for businesses and consumers.
It is further unclear how these new ambitious goals can be reached. Utilities are though positive. Currently utilities in the state are using mostly natural gas, nuclear energy and some coal. Solar, wind, geothermal and biomass are though growing sources of electricity for them.
For the geothermal sector in California that could mean that projects might now see themselves attractive again, which could help spur development.
“The new law also encourages utilities to expand by building many more charging stations for electric vehicles, and provides for fines or penalties if utilities don’t meet the goals.”