California is and has been leading the clean energy movement in the US. In 2002, California started the most aggressive clean energy mandate in the country, its Renewable Portfolio Standard (RPS) Program, requiring the state to be 20% renewable by 2017. The goal required utilities to have 20% of all the energy sold come from renewable sources or they would face steep fines/penalties. In 2006, California accelerated the 20% goal to 2010, and by 2011 codified into law a new target, 33% renewable by 2020.
Furthermore, in 2015, California added a mandate to be 50% renewable by 2030. As of today, California is over 27% renewable and on track to meeting the 33% mandate by the end of this decade. Earlier this year a new bill was introduced and is being circulated for approval that proposes a mandate of 100% renewable by 2045.
California has long been regarded as the nation’s leader in clean energy. A remarkable, one out of four renewable energy jobs in the nation are in California. California has decided to step up as a global leader along with New York and Washington. Together, the states have started a "climate alliance" that will work towards upholding the Paris Agreement and they have been encouraging other states to join.
The main takeaway is that California will continue to be a global leader in renewable energy well into the next couple of decades. Smart investors are positioning themselves into California areas that have been identified as high-growth renewable energy locations. These areas have already experienced attractive returns, it's only a matter of time before these areas sky rocket in value.
This is the opportunity of your lifetime. Get educated on the renewable energy boom, rsvp for our next event.