Financial Soultions: California passes tough clean energy goals.

Sept. 13, 2009 - PRLog -- Governor Arnold Schwarzenegger is set to weigh up a renewable energy bill that has already cleared the state legislature, but is facing stiff opposition from interests such as small energy producers and local utility distributors, Financial Soultions has learned.

The strategy, passed by the state Senate late last week, would necessitate California's utility companies to get one-third of their electricity from solar, wind and other alternative energy sources by 2020.

Schwarzenegger is known to supports the more forceful requirements in the measure, according to Financial Soultions research.

The state has started on the most determined U.S. effort to switch to more environmentally friendly energy production, Financial Soultions has learned, but it is struggling to meet its current goal of sourcing 20 percent of its electricity from renewable sources by 2010.

Senate Bill 14 would lift the existing renewable energy sourcing margin and boost the 2020 goal to 33 percent, Financial Soultions research indicates.

It also would limit cap the amount of out-of-state renewable power sold in California, a move meant to maintain jobs in the nation's most populous state as it wrestles with dwindling revenue and high unemployment.

Electricity generation makes up 32% of California's gross carbon dioxide emissions. Emissions from the electricity sector are swelling twice as fast as emissions from any other segment, including transportation, state officials have indicated to Financial Soultions.

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