Cal. Public Resources Code - PRC § 94500. Section 94500.
The sum of eight hundred fifty million dollars ($850,000,000) shall be available, upon appropriation by the Legislature, for clean energy projects.
CHAPTER 9. Clean Air [94500. - 94540.]
Cal. Public Resources Code - PRC 9.
in effectCal. Public Resources Code - PRC § 94510. Section 94510.
(a)
The proportion of any asset funded pursuant to this section or Section 94520 or 94530 shall be funded without return on equity for the lifetime of the proportion of that asset that would have otherwise been borne by ratepayers.
(b)
The proportion of any projects funded pursuant to this section or Section 94520 or 94530 shall be excluded from the ratebase, and no costs may be
collected from ratepayers.
(c)
It is the intent of the Legislature that bond moneys shall not be used for shareholder incentives or profits for shareholders of private corporations.
Cal. Public Resources Code - PRC § 94520. Section 94520.
(a)
Of the funds made available by Section 94500, three hundred twenty-five million dollars ($325,000,000) shall be available, upon appropriation by the Legislature, to the California Infrastructure and Economic Development Bank, the State Energy Resources Conservation and Development Commission, or any other entity chosen by the Legislature, upon appropriation by the Legislature, for the public financing of clean energy transmission projects
that are necessary to meet the state’s clean energy goals to reduce or offset ratepayer costs associated with the public benefits of transmission projects.
(b)
Preference may be given to projects under this section that provide multiple benefits, including, but not limited to, reducing the risk of wildfire, reducing reliance on fossil fuel plants in disadvantaged communities, and reducing rate pressure, including reconductoring and other grid-enhancing technologies.
Cal. Public Resources Code - PRC § 94530. Section 94530.
Of the funds made available by Section 94500, fifty million dollars ($50,000,000) shall be available, upon appropriation by the Legislature, to the State Energy Resources Conservation and Development Commission for grants or loans to support the Long-Duration Energy Storage Program. Eligible uses may also include zero-emissions distributed energy backup assets, virtual power plants, and demand side grid support.
Cal. Public Resources Code - PRC § 94540. Section 94540.
(a)
Of the funds made available by Section 94500, four hundred seventy-five million dollars ($475,000,000) shall be available, upon appropriation by the Legislature, to the State Energy Resources Conservation and Development Commission to support any of the following activities related to the development of offshore wind generation:
(1)
Construction of publicly owned port
facilities for manufacturing, assembly, staging, and integration of entitlements and components for offshore wind generation.
(2)
Expansion and improvement of public port infrastructure to accommodate vessels involved in the installation, maintenance, and operation of offshore wind generation.
(3)
Upgrades to port facilities.
(b)
The State Energy Resources Conservation and Development Commission may expend moneys made available pursuant to subdivision (a) consistent with the strategic plan developed pursuant to Section 25991.
(c)
The State Energy Resources Conservation and Development Commission shall prioritize projects that can show matching funds or that are located at staging and integration ports that have released a notice of preparation pursuant
to the California Environmental Quality Act process on or before February 29, 2024.
Source: CA Legislative Counsel Bulk DataURL: https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zipFetched: 6/27/2026