New California Renewable Energy Standards Promote Power Projects

---

Researched by Industrial Info Resources (Sugar Land, Texas)--With the support of California Governor Jerry Brown, state legislators recently approved an increase in the state's renewable energy portfolio standards from 33% by 2020 to 50% by 2030. The Clean Energy and Pollution Reduction Act of 2015 will lead to wider use of renewable energy in California and pave the way for an expansion of the electrical grid throughout the West Coast states, in order to take advantage of these renewable targets.

For related information, see September 24, 2015, article - California Sets 50% Renewable Energy Target.

Industrial Info is tracking 113 renewable energy projects in California valued at about $32 billion. They include 58 solar projects worth $19.9 billion; nine wind projects valued at $1.54 billion; 35 hydroelectric projects valued at $9.91 billion; three geothermal projects valued at $290 million; two biomass projects valued at $106 million; and two Landfill gas projects valued at $80 million.

Transmission and distribution projects under development to move renewable and conventional generation throughout the state amount to 54 projects, valued at $2.8 billion.

Additionally, California's energy storage mandates call for the largest investor-owned utilities to procure 1.3 gigawatts of energy storage in the next decade, with the first 200 megawatts (MW) to be awarded by the end of this year. The California Independent System Operator (ISO) (Folsom, California), which manages the flow of electrical generation across the transmission grid, reported that more than 2,000 of energy storage projects have applied for grid interconnection.

Industrial Info is tracking two battery energy storage projects, valued at more than $138 million, as well as seven hydro pumped storage projects, valued at $9.15 billion, in California.

Critics of the renewable energy portfolio legislation say it does not do enough to promote clean renewable energy that can produce power around the clock, which includes geothermal, biomass and renewable projects with an integrated storage component, such as battery energy or molten salt storage.

According to the California Energy Commission (CEC), as of mid-2015, an estimated 12,930 MW of renewable capacity has been permitted throughout California that could be brought online in the future; about 2,000 MW has been secured with power purchase agreements, an indication that the projects likely will be constructed.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.