July/14/ 10:27 AM California To Other 49 States: Can You Match Our Clean Energy Economy?

| ThinkProgress
Page 1 of 3 http://thinkprogress.org/climate/2013/03/17/1730481/california-to-other-49-states-can-you-match-our-clean-energy-economy/
Whlle Lhe prospecLs of comprehenslve energy leglslaLlon
remaln grlm ln WashlngLon, real acLlon Lo address cllmaLe
change and grow Lhe clean economy ls belng Laken on Lhe
sLaLe level.
Callfornla ln parLlcular ls a shlnlng example of sLaLe-based
leadershlp on cllmaLe, havlng esLabllshed lLs own cap-and-
Lrade mechanlsm - a key elemenL ln Lhe Clobal Warmlng
SoluLlons AcL of 2006 (also known as A8 32) - LhaL wlll soon
be llnked wlLh Lhe rovlnce of Cuebec whlch wlll decrease
overall greenhouse gas emlsslons and provlde greaLer
flexlblllLy Lo Callfornla buslnesses. 1he sLaLe also has a
8enewable orLfollo SLandard of 33 percenL by 2020 (Lhe
sLaLe uLlllLles have already meL 20 percenL of lLs elecLrlclLy needs Lhrough renewables), and a neL meLerlng program
allowlng cusLomers Lo recelve flnanclal credlL for power generaLlng by Lhelr onslLe sysLem.
1hanks Lo Lhe foreslghL of Callfornla pollcymakers and ample naLural resources, Lhe sLaLe leads Lhe naLlon ln solar
pro[ecLs, solar megawaLLs lnsLalled, and Lhe average cosL per waLL of solar. ln 2011, $1.9 bllllon was lnvesLed ln Lhe sLaLe
Lo lnsLall solar on homes and buslnesses, and Lhere are currenLly more Lhan 1,300 solar companles worklng LhroughouL
Lhe manufacLurlng chaln ln Callfornla. Callfornla even ranks second ln wlnd lnsLallaLlon, whlle also leadlng Lhe naLlon ln
mosL wlnd capaclLy lnsLalled ln 2011.
Clearly, Callfornlans have much Lo be proud of when lL comes Lo Laklng sLrong acLlon Lo reduce carbon emlsslons and
flghLlng Lhe urgenL LhreaL of cllmaLe change.
1hls week, SouLhern Callfornla energy provlders came Lo uC Lo hlghllghL Lhe sLaLe's greaL achlevemenLs and recommend
acLlon LhaL could be Laken aL Lhe federal level needed Lo malnLaln long Lerm energy rellablllLy for Callfornla whlle aL an
evenL hosLed by Lhe Los Angeles Area Chamber of Commerce. 1he panellsLs called for Lhree speclflc lLems of leglslaLlon
LhaL federal lawmakers can enacL Lo noL only supporL Callfornla pollcles, buL creaLe economlc and envlronmenLal
beneflLs for Lhe enLlre counLry:
Callfornla 1o CLher 49 SLaLes: Can ?ou MaLch Cur Clean Lnergy
Lconomy?
8y MaLL kasper, CuesL 8logger on Mar 17, 2013 aL 8:34 am
!"#$%&'()*+,*'--
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July/14/ 10:27 AM California To Other 49 States: Can You Match Our Clean Energy Economy? | ThinkProgress
Page 2 of 3 http://thinkprogress.org/climate/2013/03/17/1730481/california-to-other-49-states-can-you-match-our-clean-energy-economy/
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ln hls 2011 SLaLe of Lhe unlon address, resldenL 8arack Cbama proposed a federal clean energy sLandard," whlch
would requlre uLlllLy companles Lo produce 80 percenL of Lhelr elecLrlclLy from no- or low-carbon sources by 2033. 1he
CenLer for Amerlcan rogress has recommended LhaL an 80 percenL clean energy sLandard should also lnclude a
requlremenL LhaL 33 percenL of elecLrlclLy generaLlon come from renewable sources and efflclency measures. 1hls
sLandard should be meL by requlrlng a naLlonal LargeL of 23 percenL renewable elecLrlclLy generaLlon alongslde a
requlremenL LhaL uLlllLles reduce demand Lo save energy by 10 percenL.
An analysls conducLed by Lhe unlon of Concerned SclenLlsLs found LhaL a naLlonal sLandard LhaL requlres all elecLrlc
uLlllLles Lo lncrease usage of renewable elecLrlclLy Lo aL leasL 23 percenL by 2023 would creaLe [obs, lower energy bllls,
and reduce harmful polluLlon. 1he analysls speclflcally found some 300,000 [obs would be creaLed, $260 bllllon ln new
caplLal lnvesLmenL would occur wlLh an addlLlonal $11 bllllon golng Lo local communlLles from new properLy Laxes, and
consumers would save $64 bllllon ln lower elecLrlclLy and naLural gas bllls by 2023.
LasL year, SenaLor !eff 8lngaman (u-nM) lnLroduced Lhe Clean Lnergy SLandard AcL of 2012. 1he Lnergy lnformaLlon
Agency pro[ecLed LhaL Lhe leglslaLlon would reduce greenhouse gas emlsslons from Lhe power secLor 20 percenL by 2023
and 44 percenL by 2033.
</(&1=(!87;32(!7821352:
key federal Lax lncenLlves - Lhe producLlon Lax credlL and lnvesLmenL Lax credlL - can help level Lhe playlng fleld for
renewable energy ln a markeL hlsLorlcally domlnaLed by arLlflclally low fossll fuel prlces. 1hese Lax credlLs need Lo be
exLended long enough Lo glve lnvesLors real cerLalnLy. lor example, Lhe 1C ls seL Lo explre aL Lhe end of 2013 and Lhe
l1C aL Lhe end of 2016. Lach Llme Congress walLs Lo renew Lhese credlLs, flnanclng gaps are creaLed ln Lhe markeL.
>/($1?278("3@327;()182578?A3B?(C48(*757D1E67?
lf Lax credlLs are noL glven long Lerm exLenslons, Lhen Lhe panellsLs suggesLed Congress could make a provlslon ln Lhe Lax
code allowlng energy-generaLlon and Lransmlsslon companles form masLer llmlLed parLnershlps (MLs). lellx Mormann
and uan 8elcher, boLh aL SLanford's SLeyer-1aylor CenLer for Lnergy ollcy and llnance, recenLly wroLe:
MasLer llmlLed parLnershlps carry Lhe fund-ralslng advanLages of a corporaLlon: ownershlp lnLeresLs
are publlcly Lraded and offer lnvesLors Lhe llquldlLy, llmlLed llablllLy and dlvldends of classlc
corporaLlons. 1helr markeL caplLallzaLlon exceeds $330 bllllon. WlLh average dlvldends of [usL 6
percenL, Lhese lnvesLmenL vehlcles could subsLanLlally reduce Lhe cosL of flnanclng renewables.
SenaLor Chrls Coons (u-uelaware) has wrlLLen a blll enLlLled Lhe MasLer LlmlLed arLnershlps arlLy AcL, whlch lf enacLed,
could level Lhe playlng fleld and open up crlLlcal flnanclng Lo Lhe renewables secLor.
Sea level rlse, lncreased LemperaLures, more exLreme hoL days, and less wlnLer preclplLaLlon are all cllmaLe drlven
changes LhaL affecL Lhe healLh of Callfornla's envlronmenL and clLlzens. lf greenhouse gas emlsslons conLlnue along lLs
buslness-as-usual scenarlo pro[ecLlon, SouLhern Callfornla, speclflcally, wlll experlence longer heaL waves, hlgh ozone
condlLlons, and Lhe elevaLlon of sLorm surges LhaL wlll cause severe floodlng and coasLal eroslon. lndeed, researchers aL
Cregon SLaLe unlverslLy and Parvard unlverslLy recenLly publlshed a reporL LhaL concluded Lhe LarLh's raLe of warmlng
slnce 1900 ls 30 Llmes greaLer Lhan Lhe raLe of coollng ln Lhe prevlous 3,000 years.
July/14/ 10:27 AM California To Other 49 States: Can You Match Our Clean Energy Economy? | ThinkProgress
Page 3 of 3 http://thinkprogress.org/climate/2013/03/17/1730481/california-to-other-49-states-can-you-match-our-clean-energy-economy/
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Callfornla has made lLs move Lo prevenL cllmaLe change from occurrlng by aggresslvely cuLLlng emlsslons and deploylng
renewable energy. lL's Llme for WashlngLon u.C. Lo follow Lhelr lead.
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