California – now the fifth largest economy in the world – just made renewable energy history.
In a few hours, The California Energy Commission just passed a vote to put a new solar standard that would require solar power installations on all new homes built after 2020 in effect.
Following the vote, the “Sunshine State” now becomes the first U.S. state – and possibly the first government in the world – to legally mandate its residents go green.
“California is about to take a quantum leap in energy standards,” Bob Raymer, technical director for the California Building Industry Association said. “No other state in the nation mandates solar, and we are about to take that leap.”
Now, California already has a reputation for pushing the boundaries when it comes to renewable energy. In fact, the state’s renewable portfolio standard currently requires power companies to have 50% of their total energy sources from renewable energy by 2030.
Currently, about a fifth of new houses in California come with solar panels, almost 16% of the state’s electricity comes from solar, and the industry employs more than 86,000 workers statewide.
In fact, the state itself generates so much renewable power that it frequently has to halt production and give away stored power to neighboring states to avoid overloading the electric grid.
This new mandate will utterly transform California’s energy market – unleashing a massive amount of new wealth ripe for the picking in the solar sector in the process.