From IEEFA:
California regulated utilities are on track to reach the state’s Renewable Portfolio Standard goal of procuring 60% of retail sales from renewables by 2030, although 27 are at risk for not meeting near-term goals, according to a California Public Utilities Commission report to the Legislature.
Investor-owned utilities are forecast to have excess renewable procurement through 2027, according to the CPUC. However, small and multi-jurisdictional utilities, electric service providers and community choice aggregators collectively need to procure additional renewable resources to meet the 2021-2024 compliance period requirements, as well as future requirements.
“The aggregated percentages show that over the last three years, investor-owned utilities’ RPS procurement has increased by 12%,” according to a Nov. 19 CPUC statement. “This increase is primarily driven by load departure from investor-owned utility service to community choice aggregators, but partially mitigated by the investor-owned utilities selling excess renewable energy credits to community choice aggregators and electric service providers.”
Small and multijurisdictional utilities’ RPS procurement declined from its 2020 spike by 9%, but remains above pre-2020 levels, according to the CPUC. Community choice aggregators procurement has remained steady at 2020 levels, which dropped from 2019 primarily due to new community choice aggregators coming online with minimal to no RPS procurement and expiring short-term contracts. Electric service providers, which previously had steady RPS procurement, experienced a 10% drop from 2020 due to decreasing forecasted RPS procurement in 2021 compared to 2020.
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| Photo by Jeff Turner, Flickr |
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