California Renewables Portfolio Standard Program: procurement.
The impact of SB702 is significant in shaping California's energy landscape. By requiring electrical corporations to prepare detailed renewable energy procurement plans, the bill aims to ensure that a substantial portion of electricity sales comes from renewable sources. Specifically, starting from 2021, at least 65% of the procurement counted towards the renewables portfolio standard must be from contracts of 10 years or more. This legislative change is expected to enhance accountability among utilities, ensuring they fulfill their renewable energy obligations while supporting local economies and mitigating environmental impacts.
SB702 is a pivotal piece of legislation that modifies the California Renewables Portfolio Standard Program, focusing on the procurement of eligible renewable energy resources by electrical corporations. It emphasizes a structured approach to planning and executing contracts related to renewable energy projects, with explicit requirements for long-term contracts to ensure stability and reliability in electricity supply. The bill mandates that electrical corporations prioritize the procurement of renewable energy from projects that benefit communities facing economic difficulties and high levels of pollution. This aligns with the state's broader goals of promoting sustainability and reducing greenhouse gas emissions.
The sentiment surrounding SB702 appears generally positive, particularly among environmental advocates and community groups who see it as a step towards greater accountability in renewable energy procurement. Supporters argue that this bill will not only help in meeting state-wide renewable energy targets but also bring economic benefits to underserved communities. However, there are concerns around the implementation of these procurement strategies and whether they will effectively translate into sustainable energy practices without placing undue burdens on electrical consumers.
Despite its overall supportive sentiment, there are notable points of contention regarding the approach taken in SB702. Critics may argue that the bill could lead to complexities in the contract negotiation process and may create hurdles for smaller renewable energy projects unable to compete with larger entities for long-term contracts. Furthermore, the bill's focus on particular economic and environmental priorities might raise questions about equity and access for all potential energy producers within the state.