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06/16/2009 11:08 AM
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California Forecasts High-Cost Energy Goals
SustainableBusiness.com News
California regulators on Friday said the state's ambitious goals for clean energy production could lead to a 28% increase in electricity rates.
The state's Public Utilities Commission released a report that forecasts the costs of pursuing 33% renewable power generation by 2020.
And even with a $115 billion in construction costs, the state might not hit its goal due to environmental conflicts over siting transmission and power plants, dependence on largely untested solar thermal technology, and conflicting state priorities, according to the report.
California is also facing a budget gap of $24.3 billion for the fiscal year beginning in July.
Read the full Reuters report at the link below.
Website: www.reuters.com/article/GCA-GreenBusiness/idUSTRE55B5KN20090612
