Last month, California regulators voted to approve the basic fundamentals of a “Cap and Trade” system that will implement the state’s 2006 Global Warming Solutions Act (AB 32). Under the law, the California Air Resources Board (“CARB”) is to develop a set of regulations to implement the law itself.

While AB 32 set the foundation, CARB’s implementation will decide whether the law will actually have any impact on climate change at large and will in large part determine the viability of the renewables industry in California. As expected, they adopted the Cap and Trade system to reduce Greenhouse Gas Emissions (GHG) that will be phased in during the next decade. For more on this story and an easy to understand summary of cap and trade generally, and the system approved by CARB, see here: http://bit.ly/fhiHZY.