Silicon Valley Clean Energy provides local benefits for all customers
Sunnyvale, Calif. – This week, Silicon Valley Clean Energy (SVCE) published an Impact Report that details how the agency is delivering on its commitment to provide clean, reliable electricity and reinvest locally. The report includes a variety of success metrics which range from customer bill savings, to physical projects, and emissions reduction achievements.
“SVCE was formed by the community, for the community, and has many benefits to show from its time in operation,” said George Tyson, SVCE Board Chair and Town of Los Altos Hills Councilmember. “The board is consistently impressed with the innovative and thoughtful ways SVCE supports all 13 communities in achieving emissions reductions. This report reflects the commitment of our residents and businesses to a clean energy future and the strategies SVCE is employing to reach that goal.”
Highlights from the report include:
- Contracting for over $3.7 billion of clean energy projects. This progress puts SVCE on track to reach the 2030 state goal of 60% Renewable Portfolio Standard five years early.
- $100M worth of savings on customer bills through a maintained customer rate discount since SVCE launch.
- $20M committed for multifamily affordable housing electrification and EV charging support.
- $9.25M dispersed for income-qualified customer bill relief.
- More than $1M distributed and $1.3M reserved for customer rebates.
- Obtaining an ‘A’ investor-grade credit rating from S&P Global and received an upgraded ‘Baa1’ rating from Moody’s which indicates a strong and stable financial position.
“The SVCE board, staff, and community partners work hard to develop and implement solutions that help our communities and customers reduce emissions,” said Girish Balachandran, SVCE CEO. “It is incredible to see our work, and collective impact combined into one report. There is real significant savings we have been able to provide to customers, and our innovative policy work will have a lasting effect on reducing emissions for the long-term. There is much work to do, but I am confident we are well on our way to continue to scale solutions.”
For more details on how SVCE is providing benefits to the communities it serves, read the Impact Report.
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About Silicon Valley Clean Energy
Silicon Valley Clean Energy is a not-for-profit, community-owned agency providing clean electricity from renewable and carbon-free sources to more than 272,000 residential and commercial customers in 13 Santa Clara County jurisdictions. As a public agency, net revenues are returned to the community to keep rates competitive and promote clean energy programs. Silicon Valley Clean Energy is advancing innovative solutions to fight climate change by decarbonizing the grid, transportation, and buildings. Learn more at SVCleanEnergy.org.
Media Contact
Michaela Pippin, Principal Communications Specialist
408-721-5301 x1020
Michaela.pippin@svcleanenergy.org
