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Green Deals May Dry Up as CA Nears Clean Energy Goals

By Riley Guerin | May 12, 2012
News

Law Office Management

May 12, 2012

Green Deals May Dry Up as CA Nears Clean Energy Goals

Power companies are getting so close to the state-mandated goal of purchasing 33 percent of the energy that they distribute from "green" sources that they may not need to buy much more from such sources.

Power companies are getting so close to the state-mandated goal of purchasing 33 percent of the energy that they distribute from "green" sources that they may not need to buy much more from such sources. This could be bad news for the state's renewable energy industry-and for attorneys who facilitate deals to finance utility-scale renewable energy projects, reports the Daily Journal.

The state's "renewable portfolio standard" requires utilities to meet certain benchmarks to reduce California's carbon footprint. This led to a flurry of green energy purchasing, so that utilities cumulatively already have 75 percent of the clean energy supply they need to meet state requirements by 2020, the California Public Utilities Commission reported.
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Riley Guerin

Daily Journal Staff Writer
rguerin@journaltech.com

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