Under the proposal, utilities would need to generate 30 percent of their power from renewable sources by 2030, according to the Arizona Republic. Citing declining prices and the need to protect Arizona taxpayers, Little said increasing the percentage of renewables is a “logical next step,” the Republic reported.
Vermaland is a Phoenix-based land banking and land development company that possesses the largest holdings of 50 to 1,200-acre parcels in the metropolitan Phoenix region.
In 2006, the Commission approved the Renewable Energy Standard and Tariff, according to its website. The rules say that regulated electric utilities must generate 15 percent of their energy from renewable resources by 2025 while Little’s proposal advocates utilities would need to generate 30 percent of their power from renewable sources by 2030.
Arizona’s utility companies are required to file annual implementation plans to that tell how they will comply with the renewable sources rules. Proposals include incentives for customers who install solar energy technologies for their own homes and businesses.
Arizona’s land area and its climate of 300 days a year of sunshine make it the ideal place for solar power to thrive. Growth of renewable energy in Arizona presents opportunities for land buyers and developers.
“We would love to see Arizona claim the mantle as the top renewable energy producer in the country,” said Kuldip Verma, CEO and Founder of Vermaland. “California has been very aggressive in their renewable standards and we hope Arizona follows that path. We have witnessed too many developers leave our great state because they lacked the opportunity to sell to local utilities.”
“The time to lock up land for the development of solar and wind energy is now,” Verma added. “As the population of the Phoenix metropolitan area surges, it will be tough for developers to find suitable pieces of land to build on down the road.”
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