California clean energy law to boost small businesses' revenues by USD 4.6bn by 2020

(ADPnews) - Oct 19, 2010 - US state of California's clean energy law (AB 32) will help small businesses boost their revenues by a total of USD 4.6 billion (EUR 3.3bn) by 2020, according to California-based Small Business Majority report.

The report, Economic Opportunities for Small Businesses Under AB 32, released on Monday says that California’s Global Warming Solutions Act (AB 32) requires considerable reductions in the state’s carbon emissions, which would drive higher investments in energy efficiency and cleantech innovations. Thus, revenue prospects for companies that offer energy efficient goods and services are getting brighter.

The tighter fuel and energy efficiency requirements stipulated in the law, on the other hand, are expected to force consumers to cut on energy spending, redirecting financial resources to other local goods and services. According to the report, that may lead to the opening of 15,000 workplaces by 2020. The financial benefit for the state's small service businesses will equal to extra USD 1,115 per employee.

(USD 1 = EUR 0.718)

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