The market for renewable electricity is robust and competitive according to a report released this week by the California Public Utilities Commission (CPUC). The Quarterly Report on the state’s 33% Renewable Portfolio Standard (RPS) provides a snapshot on the impressive progress that has been made in building the state’s clean energy economy.
Highlights of the report include:
- The state's three largest private utilities - PG&E, SCE, and SDG&E - collectively served 17% of their load with renewable energy in 2010.
- All three of the state’s largest utilities are projected to meet the requirement to provide an average of 20% renewable power from 2011 to 2013.
- Over 830 MW of renewable capacity came on line in 2011.
- The cost of renewable power declined significantly over the past two years. Bid prices in response to the 2011 solicitation dropped 30% compared to 2009.
The successful growth in the renewable energy market demonstrates that we can achieve our clean energy goals and create tangible benefits for all California’s residents. The RPS has led to a steady increase in reliance on renewable electricity, which means growing energy security and price stability for California utility customers. And a competitive, orderly market means that electricity costs are coming down, helping to keep energy clean and affordable for residents of the Golden State.