California Grid Manufacturing Initiative.
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Majority
Fiscal committee
No
Appropriation
No
Current location
Appropriations
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill establishes the California Grid Manufacturing Initiative, led by the Governor’s Office of Business and Economic Development, to address supply chain issues for critical electricity grid components. It requires the Energy Unit to identify and procure these components, incentivize in-state manufacturing, and coordinate with public utilities and the Public Utilities Commission. The initiative aims to reduce costs, improve reliability, and support California’s clean energy goals by establishing a revolving fund and potentially utilizing revenue bonds.
Key provisions
- Requires the Energy Unit to establish the California Grid Manufacturing Initiative.
- Mandates the Energy Unit to identify and procure critical electricity grid components.
- Requires public utilities to submit purchasing needs projections to the Energy Unit.
- Authorizes the Energy Unit to offer financial assistance for in-state manufacturing of grid components.
- Directs the Public Utilities Commission to assess statewide needs for grid components and develop a procurement process.
- Authorizes the Public Utilities Commission to require joint procurement of critical components if warranted.
- Creates a California Grid Manufacturing Initiative Revolving Fund to provide financial assistance.
- Authorizes the California Infrastructure and Economic Development Bank to issue revenue bonds to finance the initiative.
Who is affected
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Sponsors
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1 on record
Primary sponsor
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