New Renewables California | Green Energy News

February 10, 2002 – Vol.6 No.46

NEW RENEWABLES CALIFORNIA.

In the wake of the California energy crisis a new agency was created - the California Consumer Power and Conservation Authority - better known as the California Power Authority (CPA). It is an agency with a mission - to create an energy surplus in the state so as never again to have shortages or for consumers to be subject to outrageous energy prices.

Of course, since the crisis wholesale power prices have dropped and interest in building new power plants has slowed. Nevertheless the six-month-old CPA has work to do and has completed its Energy Resource Investment Plan (ERIP). In it the CPA plans to go green and distributed.

Highlights of the plan are a proposal to finance 3500 megawatts of new green power by 2006, and for work to begin this year on 1800 megawatts of new green power that would go online by 2003. Further, the Plan includes further study of distributed power such as solar photovoltaic system or fuel cells for state owned buildings. To keep costs down the agency would be considering bulk buys of these systems.

The CPA has the authority to float more than $ 5 billion in bonds to pay for its projects. Bonds would be repaid by sales of power to investor owned utilities. Visit the CPA at http://www.capowerauthority.ca.gov/