California Energy Auction

In search of green energy projects, California is hosting an auction. In reverse. On Thursday, August 27, the California Public Utilities Commission proposed a system in which a company with a green project offers to sell to one of California’s three large utilities at a lower rate than does its competitors. Known as a “reverse auction market,” this would allow pricing for solar projects that produce up to 20 megawatts in California and can be built within 18 months to be set by the state. By focusing on the investment rather than the price, a more competitive market is the goal. Let’s hope no one ever holds a dating “auction” in the same manner.