California installed twice as many megawatts of solar-powered electricity in 2008, as it did the year before, according to a report released Wednesday.
“Our vision of solar panels lining the rooftops of houses and businesses across California is becoming a reality," Gov. Arnold Schwarzenegger said after releasing the results of the California Public Utilities Commission report on the California Solar Initiative. "Today’s report showing that solar installations doubled last year proves that."
The report showed that the initiative has created more than $5 billion worth of private investment in solar projects by California consumers, Schwarzenegger said.
"I’m encouraged to see that even in these difficult financial times we are breaking solar installation records and spurring private investment in solar projects," Schwarzenegger said. "This program is helping to make solar power possible for hundreds of thousands of Californians — saving people money on their electricity bills while helping us meet our long-term renewable energy and climate change goals.”
On average, for every $1 in incentive committed by the state program, an additional $6 in private funds is invested in solar technology in California, Schwa4rzenegger said.
The California Solar Initiative has paid or reserved nearly $775 million in incentives for about $5 billion in project costs, the governor said.
The initiative started in 2007. Schwarzenegger and Democrats in state government came up with the plan.
Click on the link to see the most recent report from the California Solar Initiative.