California State Treasurer Bill Lockyer suggested a proposal this weekend for what he says could be the largest investment in renewable energy technology in California state history — a $5 billion bond measure to make state government buildings more green.
He proposes the funds will be used to purchase and install solar technology, fuel cells and other renewable energy for state buildings. Lockyer says the ‘Green Bonds’ plan would make California government buildings carbon-neutral by 2030 and allow the state to produce roughly 1,700 MW of increased energy efficiency and renewable energy.
It’s good news for the clean tech community. Lockyer says the funds will create jobs in the clean tech industry, give a boost to the state’s green architecture, engineering and construction sectors, and will increase the supply of solar energy to the private sector. He says he “want[s] California’s green tech industry to be the nation’s leader.”
Some of the details:
- Of the $5 billion, $3.5 billion would go for solar energy that would produce an estimated 450 megawatts (MW) of non-grid, renewable energy.
- There would be a $600 million investment to boost energy efficiency by 40 percent, which could produce more than $863 million in savings over 10 years.
- Another $900 million would fund fuel cell installation, biofuels and other renewable technologies, generating an estimated 150 MW of power.
- In addition Lockyer says California should run a carbon credit bank.