A Cleaner California: PG&E Teams Up with California Universities to Propose Clean Energy Pilot Program

Rhea-AI Summary

Pacific Gas and Electric Company (PG&E, NYSE:PCG) announced a new pilot program aimed at helping California universities reduce greenhouse-gas emissions. The proposed Clean Energy Optimization Pilot (CEOP) will incentivize universities for their GHG reductions, utilizing approximately $50 million from unspent greenhouse gas auction revenues over four years. The program targets campuses in Northern and Central California, facilitating initiatives like energy-efficient retrofitting and on-site renewable energy investments. If approved, the program could launch as early as 2023.

Positive

• Proposes a new pilot program to reduce greenhouse gas emissions in California universities.
• Potential funding of $50 million from unspent GHG auction revenues over four years.
• Incentives for universities based on their GHG reductions.
• Encourages energy-efficient retrofitting, renewable energy investments, and electric vehicle infrastructure.

Negative

• None.

Incentivizes the Reduction of Greenhouse-Gas Emissions on University Campuses

SAN FRANCISCO--(BUSINESS WIRE)-- Today, Pacific Gas and Electric Company (PG&E) announced it proposed a new pilot to help California universities reduce greenhouse-gas (GHG) emissions in support of the state’s bold climate goals. If approved by the California Public Utilities Commission (CPUC), PG&E would team up with the University of California (UC) and California State University (CSU) systems to introduce a Clean Energy Optimization Pilot (CEOP) to campuses across Northern and Central California.

First unveiled by Southern California Edison for UC and CSU campuses in their service area, the program focuses on substantially lowering GHG emissions at the source. Universities would receive incentives directly based on their GHG reductions. PG&E also proposes to consider the expansion of this program to similarly situated customers in the future.

“Reducing greenhouse gas emissions is one of the most critical and impactful steps an organization can take to reduce its environmental impact. Innovative and collaborative programs like the Clean Energy Optimization Pilot are essential to the future of a clean California, and PG&E is proud to collaborate with California universities on this exciting proposal,” said Aaron August, PG&E vice president of business development and customer engagement.

In the CPUC filing, PG&E seeks to use approximately $50 million of unspent, unallocated GHG auction revenues over a four-year period. Funding would result from California’s Cap-and-Trade Program, not from customer rates.

UCs and CSUs in PG&E’s service area would be eligible. Participants could take a variety of steps to receive incentives, including:

• Retrofitting buildings to be more energy efficient
• Building new construction efficiently with energy usage top of mind
• Investing in on-site renewables, such as solar, and energy storage
• Installing electric vehicle charging stations and electrifying customers’ fleets to run on clean electricity

If approved, the program could begin as early as 2023 and would run for four years.

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220317005798/en/

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Source: Pacific Gas and Electric Company

FAQ

What is the Clean Energy Optimization Pilot proposed by PG&E?

The Clean Energy Optimization Pilot is a proposed program aimed at helping California universities reduce greenhouse gas emissions through financial incentives based on their GHG reductions.

How much funding is PG&E seeking for the Clean Energy Optimization Pilot?

PG&E is seeking approximately $50 million from unspent greenhouse gas auction revenues to fund the program over four years.

When could the Clean Energy Optimization Pilot start?

If approved, the program could begin as early as 2023.

Who would benefit from the Clean Energy Optimization Pilot?

Universities in PG&E's service area, specifically those in Northern and Central California, would be eligible to participate in the pilot program.

What types of initiatives would the program incentivize?

The program would incentivize initiatives like retrofitting buildings for energy efficiency, investing in on-site renewables, and installing electric vehicle charging stations.