California REC Market Update: Senate Bill 2

Karbone Market Research Briefs

With a new Governor in office, Senators Simitian, Kehoe and Steinberg are attempting to legislate the ARB’s executive order to extend the CA RPS, such that California utilities and retail electric sellers would need to provide 33% of electricity sales from renewable sources by 2020. The most recent attempt to undertake this (SB 722) narrowly missed getting passed in 2010. This new piece of legislation largely mirrors the previous bill’s parameters with portfolio content categories, also known as buckets, for classifying RPS renewable resources and limiting the quantities for each of the types.

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