Clean Tech Victory for California’s RPS!
California celebrated a major clean energy milestone yesterday as Governor Brown signed into law a bill that will significantly diversify the state’s energy portfolio.
The enacted legislation, which was authored by state Sen. Joe Simitian, D-Palo Alto, will increase the state’s renewable portfolio standard (RPS) to 33% by 2020 (up from the pre-existing RPS of 20%). This new law is a giant leap forward and sends an encouraging message to the venture capital community that the state remains committed to developing a vibrant renewable energy and clean technology sector.
The good news keeps coming. Governor Brown signaled yesterday that the 33% RPS codified by the new law should be considered a floor, and not a ceiling. He remarked that, “With the amount of renewable resources coming on-line, and prices dropping, I think 40%, at reasonable cost, is well within our grasp in the near future.”
Applied Materials applauds Governor Brown and Sen. Simitian’s efforts to position California as a clean tech leader and is proud to play an important role in helping to drive down the cost of solar power and make this renewable resource more accessible to everyone, everywhere. In doing so, we’re harnessing our 40-year legacy of helping to make the world’s most efficient electronic innovations like flat panel TVs, smart phones and powerful computers both possible and affordable.
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