The Assembly of California (United States) has passed a bill to extend its ambitious climate change policy beyond 2020, that aims to cut greenhouse gas (GHG) emissions by 40% between 1990 and 2030.
This vote was followed by disappointing results from a carbon market auction, California just selling 660,560 permits of the 10 million permits offered to cover emissions in 2019 (no permit sold to cover emissions in 2016) and receiving the minimum price (US$12.73/tonne). Funds from the auction will be directed to California's GHG reduction fund, to finance low-carbon projects. According to the California Air Resources Board, this indicates that emissions reductions are already occurring beyond the targets, while critics claimed that the programme was oversupplied and that companies were uncertain over its future.
In May 2015, the state's Assembly passed a bill to raise the state's renewable portfolio standard (RPS) from 33% by 2020 to 50% by 2030 (including interim targets for 2024 and 2027). Renewable Portfolio Standards (RPS) impose a minimum production from renewable sources (in 29 states, 2 territories and the District of Columbia, as of September 2014, plus 9 states and 2 territories with voluntary goals for renewable generation). By 2020, California's power utilities are expected to meet 45% of their RPS requirements with solar power (PV and CSP). In addition, the bill requires a doubling of 2030 energy efficiency targets for buildings.
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