The sum of eight hundred fifty million dollars ($850,000,000) shall be available, upon appropriation by the Legislature, for clean energy projects.
Chapter 9Clean Air
Section § 94500
This law states that $850 million is set aside for clean energy projects. However, this money can only be used if the California Legislature formally approves its expenditure.
clean energy funding California Legislature energy project appropriation clean energy projects fund allocation public funding renewable energy investment legislative approval financial appropriation sustainability initiatives government budget energy sector investment environmental funding energy resources California funding
Section § 94510
This law states that when funding certain assets or projects, the part funded by this section or related sections should not charge ratepayers extra for return on equity. It also specifies that the costs associated with these projects should not be included in the ratebase, meaning ratepayers should not bear any additional costs. Lastly, the law clarifies that bond money is not meant to be used for shareholder bonuses or profits.
(a)CA Public Resources Code § 94510(a) The proportion of any asset funded pursuant to this section or Section 94520 or 94530 shall be funded without return on equity for the lifetime of the proportion of that asset that would have otherwise been borne by ratepayers.
(b)CA Public Resources Code § 94510(b) The proportion of any projects funded pursuant to this section or Section 94520 or 94530 shall be excluded from the ratebase, and no costs may be
collected from ratepayers.
(c)CA Public Resources Code § 94510(c) It is the intent of the Legislature that bond moneys shall not be used for shareholder incentives or profits for shareholders of private corporations.
return on equity ratepayers ratebase exclusion shareholder incentives bond moneys asset funding project funding Section 94520 Section 94530 cost collection prohibition
Section § 94520
This law allocates $325 million to fund clean energy transmission projects in California. The funds are available through the Legislature for use by the California Infrastructure and Economic Development Bank, the State Energy Resources Conservation and Development Commission, or another chosen entity. The aim is to help meet the state's clean energy goals and reduce ratepayer costs connected to these projects.
Preference is given to projects that offer multiple benefits, such as lowering wildfire risks, reducing fossil fuel dependency in disadvantaged communities, and minimizing pressure on energy rates. Projects like reconductoring and other grid-improving technologies are considered favorable.
(a)CA Public Resources Code § 94520(a) Of the funds made available by Section 94500, three hundred twenty-five million dollars ($325,000,000) shall be available, upon appropriation by the Legislature, to the California Infrastructure and Economic Development Bank, the State Energy Resources Conservation and Development Commission, or any other entity chosen by the Legislature, upon appropriation by the Legislature, for the public financing of clean energy transmission projects
that are necessary to meet the state’s clean energy goals to reduce or offset ratepayer costs associated with the public benefits of transmission projects.
(b)CA Public Resources Code § 94520(b) Preference may be given to projects under this section that provide multiple benefits, including, but not limited to, reducing the risk of wildfire, reducing reliance on fossil fuel plants in disadvantaged communities, and reducing rate pressure, including reconductoring and other grid-enhancing technologies.
clean energy transmission public financing California Infrastructure Bank State Energy Commission wildfire risk reduction fossil fuel reliance disadvantaged communities ratepayer costs grid-enhancing technologies reconductoring clean energy goals energy rate pressure Legislature appropriation public benefits energy projects funding
Section § 94530
This law section allocates $50 million to the State Energy Resources Conservation and Development Commission for the Long-Duration Energy Storage Program. The money can be used for grants or loans to support projects like zero-emissions energy backup systems, virtual power plants, and demand side grid support. However, these funds are contingent upon approval by the Legislature.
Of the funds made available by Section 94500, fifty million dollars ($50,000,000) shall be available, upon appropriation by the Legislature, to the State Energy Resources Conservation and Development Commission for grants or loans to support the Long-Duration Energy Storage Program. Eligible uses may also include zero-emissions distributed energy backup assets, virtual power plants, and demand side grid support.
Long-Duration Energy Storage Program State Energy Resources Conservation Energy grants Energy loans Zero-emissions backup Distributed energy Virtual power plants Demand side grid support Energy storage funding Renewable energy projects
Section § 94540
This law allocates $475 million to the State Energy Resources Conservation and Development Commission to help develop offshore wind power. The money can be used for building or upgrading public port facilities to support manufacturing and servicing offshore wind equipment. It also includes improvements for handling the vessels associated with wind power activities. Projects that show matching funds or have taken steps to comply with environmental review processes by a specific date get priority.
(a)CA Public Resources Code § 94540(a) Of the funds made available by Section 94500, four hundred seventy-five million dollars ($475,000,000) shall be available, upon appropriation by the Legislature, to the State Energy Resources Conservation and Development Commission to support any of the following activities related to the development of offshore wind generation:
(1)CA Public Resources Code § 94540(a)(1) Construction of publicly owned port
facilities for manufacturing, assembly, staging, and integration of entitlements and components for offshore wind generation.
(2)CA Public Resources Code § 94540(a)(2) Expansion and improvement of public port infrastructure to accommodate vessels involved in the installation, maintenance, and operation of offshore wind generation.
(3)CA Public Resources Code § 94540(a)(3) Upgrades to port facilities.
(b)CA Public Resources Code § 94540(b) The State Energy Resources Conservation and Development Commission may expend moneys made available pursuant to subdivision (a) consistent with the strategic plan developed pursuant to Section 25991.
(c)CA Public Resources Code § 94540(c) The State Energy Resources Conservation and Development Commission shall prioritize projects that can show matching funds or that are located at staging and integration ports that have released a notice of preparation pursuant
to the California Environmental Quality Act process on or before February 29, 2024.
offshore wind generation public port facilities port infrastructure improvements vessel accommodation wind power equipment port upgrades matching funds staging and integration ports California Environmental Quality Act renewable energy development state funds allocation energy commission legislative appropriation strategic plan compliance notice of preparation
