California sets biggest energy efficiency plan

[OKIsItJustMe]

http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSN2447023220090924

California sets biggest energy efficiency plan

Thu Sep 24, 2009 6:37pm EDT

• California Public Utilities Commission OKs $3.1 bln
• Sets three-year budget for energy efficiency programs
• Energy saved equivalent of three 500-MW power plants

LOS ANGELES, Sept 24 (Reuters) - California said it had approved the most aggressive energy efficiency plan among U.S. states on Thursday, earmarking $3.1 billion to retrofit homes and other programs that will cut power needs equivalent to three medium-sized power plants.

Conservation and efficiency have become national buzzwords as the economy has failed, since such investments have some of the quickest paybacks of any in 'green' industries.

The California Public Utilities Commission set a three-year budget for utilities 42 percent higher than the previous plan. The state pioneered the concept of letting utilities raise rates as they spurred conservation, which still is not the case in many U.S. states.

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"Capturing the full energy efficiency potential in the state requires more than simply providing rebates to support the installation of the latest and greatest widget," Peevey said.

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