California Prop 39 Boosts Energy Efficiency

November 25, 2012

California Proposition 39 closes a tax loophole for multistate businesses and is expected to raise $1 billion a year. Half of that money for the first five years—an estimated $2.5 billion—is slated to fund energy efficiency and clean energy projects in California schools and other public buildings. After that time, all the money will go to the general fund. The measure, approved by 60% of the state's voters on November 6, was praised by renewable energy advocates, including the Solar Energy Industries Association, which issued a statement saying Prop 39 would help expand solar energy in the state. See the Christian Science Monitor story.