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Commission reaffirms Palo Alto's carbon‑neutral accounting and renewable‑credit exchange program, votes 4‑0
Summary
The Utilities Advisory Commission voted unanimously to continue the city's hourly carbon neutral accounting and the Renewable Energy Credit (REC) Exchange program; staff reported $28.5 million in net exchange revenue since 2019 and projected declining future revenue.
The Utilities Advisory Commission voted 4‑0 to reaffirm Palo Alto's carbon‑neutral plan and the Renewable Energy Credit (REC) Exchange program after staff reviewed six years of results and longer‑term projections.
Jim Stack, senior resource planner, told commissioners that the city shifted in 2020 from annual to hourly accounting for its carbon‑neutral plan to reflect the changing grid mix across the day. At the same time the council authorized a REC Exchange program that sells surplus in‑state renewables and replaces them 1‑for‑1 with out‑of‑state renewable energy credits (RECs) to meet the…
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