Application forms and instructions are now available to request the retirement of California Cap-and-Trade Program GHG Allowances for purchased and installed voluntary renewable electricity. The Cap-and-Trade Program allows entities to apply to ARB to have GHG allowances retired on their behalf for eligible voluntary renewable electricity purchases, pursuant to California Code of Regulations, title 17, § 95841.1.
The California Cap-and-Trade Regulation (Regulation) went into effect on January 1, 2012. The Voluntary Renewable Electricity (VRE) program supports renewable electricity purchases that are not mandated by the Renewables Portfolio Standard (RPS), and provides a mechanism for the recognition of voluntary purchases of renewable electricity in the Cap-and-Trade Program. The Cap-and-Trade Regulation specifies a percentage of allowances to be set aside each year for VRE purposes. Voluntary purchasers of renewable electricity may apply to retire allowances for these purchases. Retirement of allowances under the VRE program allows voluntary purchasers of renewable electricity to claim a reduction in GHG emissions. Renewable electricity plays an important role in meeting California’s GHG emission reduction goals. The growing voluntary renewable energy market will help to further reduce emissions from the electricity sector and stimulate innovation in renewable energy, promote new businesses and job growth, and reduce air pollution.