California's Renewable Portfolio Standard (RPS), one of the most ambitious renewable energy standards in the country was initially established in 2002 under Senate Bill 1078 and accelerated in 2006 under Senate Bill 107.
The newest renewable portfolio legislation - SBX 1-2, requires all California's electric utilities to reach the 33% RPS in three compliance periods. Between January 1, 2011 and December 31, 2013, the utilities must procure renewable energy products equal to 20% of retail sales. By December 31, 2016, utilities must procure renewable energy products equal to 25% of retail sales, and by December 31, 2020, utilities must procure renewable energy products equal to 33% of retail sales and maintain that percentage in following years. In order to achieve compliance with the statute, Azusa is actively pursuing opportunities to contract for requisite amounts of renewable portfolio standard compliance products, including renewable energy and “unbundled” Renewable Energy Credits (REC’s).