California has established a superb track record of setting and attaining ambitious goals for addressing climate change. In 2016, California reached its Assembly Bill (AB) 32 (Núñez, Chapter 488, Statutes of 2006) goal of 1990-level greenhouse gas (GHG) emissions four years ahead of its 2020 target. Similarly, in 2018, the state met its goal of 33 percent renewable energy two years ahead of its 2020 target. Deeper investments in technology can continue to support California’s global leadership in addressing climate change, helping meet the state’s clean energy and climate goals faster and at lower cost. The CIP will support the early development and scale-up of breakthrough clean energy and climate change technologies, including in the largest emitting sectors of the economy — power, transportation, buildings, and industry — and support economy-wide goals such as carbon neutrality by 2045 (AB 1279, Muratsuchi, Chapter 337, Statutes of 2022). This program will provide up to $500 million for eligible projects, providing a pathway for innovations that help transition technology from research institutions to private sector ventures where they can be further developed and scaled to the commercial stage.
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