California is making bold strides in any aspect it can to achieve its climate agenda. The state’s latest move involves phasing out gas-fueled furnaces and heaters by 2030.
In a proposal unanimously approved by the California Air Resources Board, the state will ban the sale of all new natural gas-powered furnaces, space heaters, water heating appliances, and similar items by the end of the decade.
The recent decision is still part of the Golden State’s climate goal to have a carbon-free electricity grid by 2045.
This also follows the earlier decision by the California Public Utilities Commission to stop utility firms from billing customers for part of the cost of extending a natural gas line to a new residential or commercial establishment. The move takes away a key incentive for using natural gas in new facilities.
Earlier in August 2022, the state also announced a plan to ban the sale of all new gasoline-powered cars by 2035. However, with the state authorities declaring a grid emergency due to the record drought and the looming energy crisis, they also had to issue a contrasting guideline to avoid charging electric vehicles.
In terms of electricity production, California lawmakers also voted to extend the lifeline of the state’s last nuclear facility, 2,240-MW Diablo Canyon Nuclear Power Plant, for another five years.
Information for this briefing was found via Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
