California to Require Utilities Companies to Receive 33% of Power from Renewable Sources (TAN) (FAN)
AP reporting California Governor Jerry Brown has signed a measure requiring utilities to get one-third of all their power from renewable sources. The mandate will be the largest renewable power measure within the US.
The measure will force utilities companies within the state to receive 33 percent of their total power from solar panels, wind-powered turbines or other forms of renewable energy by 2020.
California previously had a law requiring utilities to derive about 20 percent of their power from such renewable sources.
The Claymore/MAC Global Solar Index ETF (NYSE: TAN) is down 0.8 percent Tuesday. The First Trust Global Wind Energy ETF (NYSE: FAN) is down about 0.5 percent.
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The measure will force utilities companies within the state to receive 33 percent of their total power from solar panels, wind-powered turbines or other forms of renewable energy by 2020.
California previously had a law requiring utilities to derive about 20 percent of their power from such renewable sources.
The Claymore/MAC Global Solar Index ETF (NYSE: TAN) is down 0.8 percent Tuesday. The First Trust Global Wind Energy ETF (NYSE: FAN) is down about 0.5 percent.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
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