Investing in Alternative Energy – The Angelides Green Wave Plan

Phil Angelides is committed to investing California’s economy into alternative energy and clean technology, such as solar power and hybrid and flex fuel vehicles.

• Catching the Green Wave: As Treasurer, Phil launched the Green Wave investment initiative in February 2004, calling on the state's pension funds to invest $1.5 billion in clean technology, alternative energy, and energy efficiency.  These investments have earned strong returns for the funds, created jobs, and improved the environment. To build on this success, Phil Angelides will seek an additional $1.5 billion in Green Wave investments from our $300 billion state pension funds, local pension funds, and other institutional investors to invest in alternative energy and clean technology.
• Going Big Solar: As Governor, Phil Angelides will make large-scale solar energy plants a focus of his vision for the state’s clean energy policy which protects California ratepayers, businesses and consumers and meets the state’s future energy needs.  A study commissioned by the U.S. Department of Energy concluded that for every $1 spent on large solar plants, the gross state product would increase by $1.40-$1.50 and create more permanent jobs than conventional power plants.
• Prop. 87 – the Clean Energy Initiative: Phil Angelides is working with environmental groups, scientists, business leaders, public health organizations, and consumer groups to pass Proposition 87, the Clean Energy Initiative. It will direct $4 billion over 10 years to fund research to spur the discovery of new clean fuel and energy technologies and move them toward the marketplace, creating jobs and new export opportunities for California businesses. Arnold Schwarzenegger opposes the measure, putting the profits of his oil industry allies, who are raking in over $350 million in profits per day, over the health of our people and environment.