$10 billion for water, clean energy, and environmental protection has passed the full legislature   

SACRAMENTO, CA – Today, California lawmakers passed a groundbreaking $10 billion climate bond, the largest climate investment in state history. This novel initiative aims to advance clean energy, clean drinking water, and environmental protection programs that will bolster community resiliency and response time from climate-related disasters.  

Advanced Energy United (United), a national business association, worked with key legislators to ensure the climate bond included $325 million in funding for clean energy transmission projects and $50 million in funding for long-duration energy storage and distributed energy resources (DERs), including virtual power plants (VPPs).  

“We are thrilled to see funding allocated to building and upgrading transmission projects that will leverage grid-enhancing technologies and advanced reconductoring,” said Edson Perez, California policy lead at United. “These innovations can triple the efficiency of our electricity grid, meet rising power demands, and save billions by minimizing costs and reducing the need for costly new transmission lines.”

Additionally, United is pleased to see funding for DERs. “The support for DERs and VPPs is crucial,” Perez added. “This investment will strengthen our electricity grid’s reliability, flexibility, and affordability, which is critical for preventing blackouts during extreme heat and wildfires. However, this modest funding only marks the beginning. To fully maximize these benefits, we urge the state to further support and fund critical DER programs, including DSGS and DEBA.”

United thanks California lawmakers for their commitment to prioritizing the implementation of the climate bond. The climate bond will be presented to California voters on the November ballot for approval.

Click here to learn more about Advanced Energy United's work in California.