Development of solar projects in California has been spurred by California’s renewable portfolio standard (RPS), which requires that 60% of retail electricity sales must be served by renewable resources by 2030 and requires all the state’s electricity come from carbon-free resources by 2045. As of 2018, solar PV and solar thermal power plants produced 27,237 GWh of energy, which is approximately 14% of the state’s total electricity production, and California is on course to meet the RPS if development continues. However, to finance and build solar projects, local tax planning should be integrated into modeling at each stage of development.
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September 19, 2019