Wired for Savings

The report evaluates alternative financing for California's high-voltage transmission expansion needed for its 2045 clean energy goals. It finds that a Public-Private Partnership (PPP)-Lease model could save ratepayers up to $3 billion annually, or $123 billion over 40 years, by utilizing low-cost public debt and competitive procurement.

• Alternative financing and development models could reduce transmission costs by as much as 57 percent, resulting in potential ratepayer savings of up to $3 billion per year, or approximately $123 billion over a 40-year period.
• The PPP-Lease model is identified as the lowest-cost approach because it combines low-cost public debt, competitive bidding for procurement, tax-exempt public ownership, and private sector efficiency for operations and maintenance.
• The primary drivers of cost savings in alternative models include replacing equity with low-cost public debt to lower interest rates, reducing tax obligations through public ownership, and increasing efficiency via private operations.
• Based on the CAISO 20-Year Outlook, the estimated engineering and construction costs for necessary high-voltage transmission are between $39 billion and $54 billion, but total costs under an investor-owned utility (IOU) scenario could reach $216 billion over 40 years.
• The analysis suggests that for a specific $7.7 billion line planned for North Coast offshore wind, the annual cost to ratepayers would drop from $774 million under an IOU model to $332 million under a PPP-Lease model.
• Current California state agencies possess some but not all the authority required to implement public financing strategies; the report recommends the passage of AB 3264 to further evaluate ownership models and costs by July 1, 2025.

APA

Clean Air Task Force (n.d.). Wired for Savings. https://cdn.catf.us/wp-content/uploads/2024/10/31145139/wired-for-savings.pdf

Chicago

Clean Air Task Force. Wired for Savings. n.d. https://cdn.catf.us/wp-content/uploads/2024/10/31145139/wired-for-savings.pdf.

Wikipedia

{{cite report |author=Clean Air Task Force |title=Wired for Savings |url=https://cdn.catf.us/wp-content/uploads/2024/10/31145139/wired-for-savings.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{cleanairtaskforcendwired, author = {{Clean Air Task Force}}, title = {{Wired for Savings}}, institution = {Clean Air Task Force}, url = {https://cdn.catf.us/wp-content/uploads/2024/10/31145139/wired-for-savings.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }