Monday, November 12, 2012

California's Proposition 39 will Generate Half a Billion a Year for Clean Energy and Efficiency

In California 60 percent of voters approved the passage of Proposition 39 which will generate $500 million per year for energy efficiency and clean energy projects in public buildings over the next five years. This includes projects at schools and government buildings such as installing solar panels, and energy efficiency retrofits.

"California voters not only modernized the state’s corporate tax structure by passing Prop 39, they indicated their strong support for renewable energy, including expanding solar energy and encouraging related investment over the next five years,” Carrie Cullen Hitt, vice president for state affairs at The Solar Energy Industries Association.

Although the proposition could raise taxes for some corporation, the state's Legislative Analyst's Office, said it will create up to 40,000 new jobs in California.

It is interesting to note that Proposition 39 had almost no formal opposition. the reason for this appears to be due to the hard work of Tom Steyer, a hedge fund manager who poured almost $30 million into the campaign to pass the measure. He succeeded in thwarting opposition by threatening to publicly identify any corporation that opposed it.

© 2012, Richard Matthews. All rights reserved.

Related Articles
American Voters Want More Renewable Energy
The Promise of Renewable Energy in the US
Renewable Energy Is Our Only Hope
President Clinton on What the American Public Needs to Know about Renewable Energy
China and the Growth of Global Wind Power
Renewable Energy in 2012: The Global Economic and Environmental Climate
How the West can Capitalize on the Growth of Chinese Cleantech in 2012
Outlook for the Chinese Solar Industry in 2012
India is the World Leader in Cleantech Investment Growth
The EU Debt Crisis did Not Curb the Growth of Renewables in 2011
UK Renewable Energy 2011 Overview
UK Wind Energy
Cuts to UK Solar FiTs Could Prove Deadly
Cuts to UK Wind Power ROCs & FiTs
The Implications of the Expiration of US Renewable Energy Subsidies
Obama 2013 Budget Seeks to Make Renewable Tax Credits Permanent
US Wind Energy Market Review and Forecasts for 2012
US Solar Energy Review and 2012 Forecasts
Geothermal Energy Market Review and Forecasts for 2012
British Government to Lead the Green Economy
Market Forces and the UK's Green Deal
UK Government Investments in Efficiency and Renewable Energy
Corporate Sustainability is Driving Green Businesses in the UK
UK Renewable Energy 2011 Overview
Cuts to UK Wind Power ROCs & FiTs
UK Wind Energy
Cuts to UK Solar FiTs Could Prove Deadly
Scottish Wind Energy Can Power Europe
The Growth of London's Green Economy
The EU Debt Crisis did Not Curb the Growth of Renewables in 2011
Sustainability and the European Super Grid

No comments: