Carbajal to announce legislation to grow local energy investments
Bill aimed at growing the renewable energy industry to help offset economic impact of Diablo Power Plant closure
Representative Salud Carbajal.
–On Monday, Rep. Salud Carbajal (CA-24) will announce the introduction of the Energy Opportunity Zone Act, to invest in renewable energy business development in San Luis Obispo County. This legislation creates an energy opportunity zone, providing new federal tax credits for the renewable energy industry near San Luis Obispo to help mitigate the economic impact of the Diablo Canyon Nuclear Power Plant closure.
PG&E announced through a Joint Proposal with key stakeholders in June, 2016, that it will close the Diablo Canyon Nuclear Power Plant by 2025 when its license to operate expires. According to San Luis Obispo County’s Economic Vitality Corporation, the County will suffer an estimated $1 billion hit to the economy per year. The Joint Proposal included transition support for the community and PG&E employees, but was significantly reduced by the CPUC in January. The community impact mitigation program proposed $85 million for transition but was rejected entirely by the CPUC.
