Utility Dive•2 days ago
California orders utilities to add 6 GW of non-fossil capacity by 2032
Key Takeaway
This mandate signals a clear and substantial long-term procurement directive for clean energy in California, creating significant development opportunities and influencing market dynamics for non-fossil assets.
AI Summary
- •California's CPUC has mandated utilities to add 6 GW of new non-fossil capacity to the grid by 2032.
- •Eligible resources must be zero-emitting or otherwise qualify under the state's Renewables Portfolio Standard (RPS) program, directly benefiting solar, wind, and storage projects.
- •This regulatory order creates significant market opportunities for developers in CAISO, driving demand for clean energy PPAs and impacting capacity market values.
Topics
caisocapacity-marketemissionsfinancinginterconnectpolicyppasolarstoragewind