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Market
California Renewable Energy Share by End of 2025
4
Resolution / Starting Odds
40-50% • 25%
50-60% • 25%
60-70% • 25%
70%+ • 25%
California Energy Commission annual energy generation report
Story
California Boosts EV and Renewable Energy Infrastructure; Plans to Ban Gas Vehicles by 2035
Apr 28, 2024, 02:56 PM
California has significantly enhanced its energy infrastructure to support electric vehicles (EVs) and renewable energy sources. The state's power grid now includes batteries capable of supplying 10GW of power, a substantial increase from the previous peak of 4GW. This expansion is crucial as the demand can reach up to 25GW during peak times, particularly when solar energy diminishes in the evening. In addition, California has made strides in its EV infrastructure, achieving a ratio of one fast-charging EV station for every five gas stations. This development coincides with the news that 25% of all new cars sold in the state last year were zero-emission vehicles (ZEVs), with California accounting for 34% of new ZEV sales in the U.S. Moreover, the state plans to ban the sale of new gas-powered vehicles after 2035, further emphasizing its commitment to sustainable transportation.
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