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Californians vote in favor of renewable energy
Californians vote in favor of renewable energy - Power Engineering
This is insane.
Californians vote in favor of renewable energy - Power Engineering
During the Nov. 6 election, California voters passed one proposition that will have a direct effect on the growth of the states renewable energy industry, and another that could have an indirect effect.
Proposition 39 changes corporate tax code to be based on sales rather than payroll in an effort to make Californias corporate tax structure consistent with most large states. This new structure is expected to generate an additional $1.1 billion each year in revenue. For the first five years after the initiative passes, 50 percent of the funds are set aside for solar, renewables and efficiency projects. After five years, 100 percent of the funds go to education and the general fund.
Proposition 30, meanwhile, eliminates $6 billion in cuts to California colleges and schools, strengthens California competitiveness by maintaining educational funding, taxes high income-earners with more than $500,000 in earnings and provides funding for schools and public safety.
In implementing Prop 30, the Solar Energy Industries Association (SEIA) hopes that Governor Brown and Californias leaders can balance the budget while preserving a strong tradition of support for the states growing leadership in renewables, including solar energy, said Carrie Cullen Hitt, vice president for State Affairs at SEIA.
This is insane.