Solar Plants in California

The Obama Administration approved the construction of two solar power facilities in California earlier this week. This is just another example of how the energy industry is shifting in nature towards alternative energy. This is only the first project in a long list of future alternative energy facilities expected to be approved and set up by the US government. The two solar power facilities combined will bring a large amount of capital to California's economy, an expected one billion dollars along with 950 new jobs and enough electricity to supply 500,000 homes. California is also planning on building potentially nine new solar energy facilities by the end of the year in order to get a 30% tax break incentive from the government which ends on December 31st. This shift towards alternative energy will bring a large boom in California's economy which it desperately needs. These new projects bring in new jobs and more cash flow which may not have come had it not been for government incentives for creating alternative energies.
Chevron who is unquestionably one of the leaders in the energy industry is in charge of one of these solar energy facilities in California. This shows that even though Chevron receives the majority of its profits from oil they understand that they need to branch out and expand to what the market will be in the future. Not only does this show Chevrons business savvy it also confirms that the largest corporation in the Oil industry believes that the market is beginning to shift towards alternative energy.

-Tom Langevin
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