California took a significant step towards a green energy future last week when the California Air Resources Board set a new standard that 33% of the energy provided in the state come from clean sources by 2020.
Currently, California uses more than 14% renewable energy, and according to the new standard, the target should raise to 20% by 2012. The aim is to diversify and secure the nation’s energy supply which would eventually lead to cheaper energy for the consumers, according to ARB Chairman, Mary D. Nichols.
The Board also hopes to create new jobs in the sector of renewable energy, while reducing the state’s dependence on fossil fuels.
The new regulation concerns all energy providers, not just the publicly-owned companies as set before. The measure will also be applied in the case of the largest public utility company in the U.S., the Los Angeles Department of Water and Power.
Similarly to carbon offsets, companies can purchase renewable energy credits to meet the 33 percent requirement by placing investment in renewable energy projects.