California's 33 Percent Renewable Portfolio Standard—Consequences for the Renewable Energy Market

摘要

On April 12, California Gov. Jerry Brown (B) signed into law the most ambitious renewable portfolio standard (RPS) in the United States. Senate Bill XI 2, also known as the California Renewable Energy Resources Act, requires all of California's retail electricity sellers to procure 33 percent of their annual retail sales of electricity from renewable energy sources by 2020. S.B. XI 21 reaffirms California's strong commitment to the development of renewable energy sources and sets a target for other states to emulate. As the state's utilities and energy providers work to meet the RPS program's aggressive goals, the new law will have immediate and far-reaching implications for businesses, renewable energy developers, consumers, and the energy industry generally.