On January 12th the California Public Utilities Commission (PUC) approved the California Solar Initiative (CSI), which provides $2.9 billion in incentives from 2007 – 2017 to help promote the development of solar power. This program is aimed at reducing the costs of solar technology for State consumers as California move towards cleaner energy solutions. The CSI represents the largest program of its kind in the United States, setting an example that many hope will lead to nationwide growth opportunities within the renewable energy arena.
“The California Solar Initiative is the largest solar program in the country and I hope it will be a model for other states. The program will be a major source of dependable and environmentally friendly electricity, and is a major tool in the State’s promise to address climate change and meet the Governor’s goals to reduce greenhouse gas emissions,” stated PUC Commissioner Dian M. Grueneich.
It is believed that this program will help to stabilize and solidify the market for solar technology, benefiting consumers as well as participating companies operating within this space. Dr. Robert Wilder, CEO & Founder of Wildershares, LLC and Manager of the WilderHill Clean Energy Index explains, “Many solar companies have already sold out all their panels for this entire year and some into the next year, so this isn’t so much going to create wanted demand – the demand is there now. Instead, it’s going to ensure a more stable scenario for the future. Producers of raw silicon for panels will ramp up with less risk now, as they look five or ten years out.
This Initiative will also help kick-start other States and even Nations to grow their solar programs. Germany and Japan have benefited so far with the jobs created and growth from their ambitious programs, and now it’s California’s turn. I’m proud that the State is going to generate economic growth and new jobs, enacting this smarter energy policy that’s a win-win all around.”
I am looking forward to evaluating the impact that this initiative will have not only for Californians, but for many of the other states that have aggressively been pursuing clean energy