Socal Multiunit Real Estate

THE GOVERNMENT HAS $72 BILLION FOR GREEN REAL ESTATE

By Jodi Summers

Experts have calculated that the Obama administration has put together more than 30 programs worth $72 billion that can be used to increase energy efficiency in commercial buildings and multifamily housing.

“The Obama Administration has tremendous, untapped opportunities to use legal tools already at its disposal to enhance the energy efficiency and sustainability of the nation’s multifamily and commercial buildings — all without seeking new funds or authority from Congress,” observes a report prepared by Van Ness Feldman. “All told, the programs identified in this report have the potential to directly provide or facilitate over $72 billion in funding or loan guarantees, and can leverage hundreds of billions of dollars in private investment through instruments such as mortgage insurance and regulation of the real estate lending market.”

Titled “Using Executive Authority to Achieve Greener Buildings: A Guide for Policymakers to Enhance Sustainability and Efficiency in Multifamily Housing and Commercial Buildings,” the legal analysis, suggests several ways the Obama administration can use existing programs to enhance building efficiency:

* Reforming appraisal and underwriting practices at Fannie Mae and Freddie Mac Greening federal banking regulations

* Promoting flexible FHA insurance products

* Integrating energy efficiency and sustainability criteria into competitive grants and funding formulas

* Strengthening minimum property standards for federal housing and economic development programs to reflect energy efficiency and sustainability standards

* Improving performance standards applicable to federal buildings and leases

* Refining guidance applicable to the energy efficient commercial buildings tax deduction and the national historic preservation tax credit

* Using SBA funding mechanisms to support small business energy efficiency investments

* Streamlining Title 17 loan guarantees to make them suitable for buildings

“As an early adopter of green buildings and the LEED green building certification system, the federal government has been a leader in bringing green buildings to cities and towns across America,” said Roger Platt, the USGBC’s senior vice president of Global Policy & Law declared. “This new report unveils an even larger opportunity for the Obama Administration to increase our nation’s energy efficiency, while creating thousands of jobs and saving taxpayers money.”

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http://www.usgbc.org/government

http://www.greenbiz.com/news/2010/04/30/obama-already-has-72b-tap-green-buildings-study-says

http://www.boulderindependentbusiness.org/wordpress/wp-content/uploads/2009/02/namaste_obama_0093.jpg

http://www.rechargenews.com/multimedia/archive/00032/obama_solar_3_32125a.jpg

SAM ZELL’S INVESTMENT STRATEGIES

SAM ZELL’S INVESTMENT STRATEGIES

By Jodi Summers

Expectations of a crash in commercial real estate market are “greatly exaggerated,” noted media and real estate magnet Sam Zell recently in Chicago. “Everyone is waiting for the grave dancer to come and exercise his magic potion, but you need two to tango.”

Speaking at the at the first “Invest for Kids” conference in downtown Chicago, Zell noted that owners of office and apartment buildings today have no incentive to sell. By 2011 or 2012 they will likely be able to fill their vacancies, albeit at rates 30% below their peaks, because demand will catch up to supply, he observed.

Optimistically he shared the fact that the U.S. population is growing and with fewer building starts in the past decade, demand for housing will rise.

Then again, Mr. Zell has made some interesting predictions. Financial mogul Sam Zell, owner of the Tribune Co., recently told an Israeli business conference that the U.S. real estate market will be in recovery by spring 2009.

Chicagoan Sam Zell is best known for owning and defaulting such famous media properties as the Los Angeles Times, Chicago Tribune and New York’s Newsday. Media aside, Zell’s fame and $6 billion net worth originate from his mastery of real estate investing principles. This mastery, demonstrated repeatedly over a 40-year career, results from Zell’s acute understanding of real estate market mega-trends and his dedication to turning around troubled properties.

Zell got into real estate investing in the 1960s, during the time he received his bachelor’s (1963) and law degrees (1966) from the University of Michigan. It started when he finagled his way into a property management role with a local landlord. Next, Zell began buying distressed properties, fixing them up and rent them to students. Zell was a hands-on landlord who put a lot of energy into scouting and fixing up locations.

According to About.com, “In 1969, Zell and his partner Robert Lurie formed Equity Properties Management Corp. to centralize Zell’s rapidly diversifying investments in real estate. In the 1970s, Zell expanded beyond his initial interest in residential real estate and began to acquire office space under the aegis of Equity Office Properties Trust, or EOP. Zell structured his business as a series of real estate investment trusts, or REITs, under the Equity umbrella. EOP was one REIT; Equity Residential Properties Trust was another. The REIT structure allowed Zell to radically reduce his corporate income taxes. In addition to exploiting the REIT tax structure, Zell polished his skills as a salesman and convinced an increasing number of investors to entrust their money to him.”

Zell, with Robert H. Lurie went on to found the Equity Group Investments, LLC, which spawned three real estate public companies, including: Equity Residential, the largest apartment owner in the United States; Equity Office Properties, the largest office owner in the country; and Manufactured Home Communities, a mobile home company. In addition, Zell has created a number of public and private companies.

He proceeded to grow his office properties - Equity Properties Management REITs into strong national brand names. This project met with marginal success, as enterprises tended to buy office space based on local differentiators such as price and management, not on national differentiators such as brand name. Zell had to sell some office space for less than what he paid for it, but this did not cost him his whole empire, and he sold this part of his portfolio to Blackstone for $36 billion in 2006, and in 2007, Zell acquired a portfolio of newspapers owned by the Tribune Co., including the Chicago Tribune, Los Angeles Times, Newsday and Baltimore Sun. …an odd time to buy newspaper franchises.

Currently, Zell recently raised $625 million to invest in “credit opportunities.”

“In every market and in every situation there is opportunity,” Zell concluded.

“In my 40 years in real estate, I’ve found there is only one metric that matters — replacement cost.” He noted that the spread between a building’s replacement cost and its economic value is as wide today as it was in 1993 — mainly because the cost of construction has increased.

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http://www.businessweek.com/the_thread/hotproperty/archives/2005/11/zells_favorite.html

http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=36105&print=1

http://www.socalmultiunitrealestateblog.com/?p=201

http://homebuying.about.com/lw/Business-Finance/Real-estate/Sam-Zell-Real-Estate-Magician.htm

http://en.wikipedia.org/wiki/Sam_Zell

http://www.businessweek.com/the_thread/hotproperty/zell2.jpg

http://reason.com/assets/mc/mwelch/2009_10/SamZell.jpg

http://www.richsamuels.com/nbcmm/zell/images/zellhs.jpg

http://images.businessweek.com/ss/08/07/0731_zell/image/zell.jpg

SOCAL MULTIUNIT REAL ESTATE SNAPSHOT – JULY 2010

by Jodi Summers

Apartment properties hover in that weird netherworld between residential and commercial properties. Oftentimes, the two markets are working in tandem, so it’s no big deal, but lately in Coastal Los Angeles, activity in the residential market has been on the rise while the commercial market continues to languish.

June statistics for the Los Angeles County multiunit market reflects that dichotomy. Comparing Jun-08 to Jun-10, you’ll notice that the median price of for sale properties is down 7% and the median price of sold properties is down 48% - reflecting the huge drop in the commercial property market.

But, like the residential market, multiunit activity is way up. Contrast Jun-08 vs. Jun-10 and you’ll note that the number of under contract properties is up 95%

The rise Los Angeles is seeing in apartment building sales is happening country-wide. Nationally, through the first six months of 2010, $11.6 billion in multifamily property

traded hands, up from $7.7 billion in the first half of last year, according to 2010 CoStar first-half sales statistics. CoStar expects the prorated dollar volume for multifamily properties for 2010 to exceed $23.3 billion - a 17% increase over 2009.

Which is why, in a year-over-year comparison the number of sold properties is up 21%.

We have started our rise out of the mire. The midyear UCLA Anderson Forecast notes that the Los Angeles regional economy will likely recover faster than the rest of the state, even though the economic recovery in California is going to climb slower than the rest of the country this year. Already we are seeing signs of slow decline… state unemployment dropped a shred from 12.5% in April to 12.4% in May.

The state “will grow slower than the US and a slow recovery in jobs will leave unemployment at 12.1% for the year,” notes UCLA Anderson senior economist Jerry Nickelsburg, in the midyear forecast. “The latter part of our forecast (through 2012) calls for health care, professional and business services, exports, construction and technology-related manufacturing sectors to generate a bit more robust growth in California.”

We are on the march. Let’s look forward. This year is better than last year, and next year will be better than this year.

We’re here to help you with investment properties. Please contact Jodi Summers –jodi@jodisummers.com or 310.392.1211 for details.

**

http://www.globest.com/news/1684_1684/losangeles/300380-1.html?ET=globest:e22415:277110a:&st=email

http://www.costar.com/News/Article.aspx?id=B4DDC752B7245C006B76C18CE64493DB&ref=100&iid=188&cid=383F14EEE265B182474DA2442BACBBBF

http://www.edd.ca.gov/About_EDD/pdf/urate201006.pdf

https://www.terradatum.com/agentmetricsonline/property_type_selection.td

GREEN BUILDING INSIDER SURVEY CONCLUDES THAT COMMERCIAL BUILDERS, BUYERS AND SELLERS FEEL GREEN IS GOOD, LEED IS O.K.

GREEN BUILDING INSIDER SURVEY CONCLUDES THAT COMMERCIAL BUILDERS, BUYERS AND SELLERS FEEL GREEN IS GOOD, LEED IS O.K.

By Jodi Summers

The third annual Allen Matkins/CTG/Green Building Insider Green Building Survey reveals that 93.4% of those surveyed agreed that it is worth the time and effort to build green, but only 66.2% believe that obtaining LEED certification is worth the effort.

More than 900 green building professionals – from design professionals, contractors, subcontractors, construction planners to building owners - completed the survey.

Additional findings in the survey were that designers, owners and contractors each offered differing results when assessing the risks involved in green construction or whether green construction adds to the cost of projects.

Bryan Jackson, chair of the green building and sustainable construction group at the Los Angeles office of the law firm of Allen Matkins Leck Gamble Mallory & Natsis, confided to GlobeSt.com that, “…New LEED requirements being introduced this year include a carbon overlay that should bring many of the survey respondents back into the fold with respect to LEED certification. Another change in the new LEED requirements is that the certification process takes into account regional differences, which should also help the LEED process to regain some of its lost adherents.”

Tools are coming to make communicating green commercial design easier. Building Information Modeling employs computer-aided design to produce three-dimensional models of projects for incorporating green design elements from the very start of and throughout a project. Those surveyed estimate that green construction adds between 1% and 4% to the cost of a project, but those who use can BIM see a better rate of return.

“If you design for green and sustainable elements from the very beginning, you will be able to come out with a project in that could certify to Green, LEED, Gold or Silver without spending any more than conventional construction, which is pretty amazing,” Jackson says.

See the whole survey @ http://www.allenmatkins.com/emails/GreenSurvey/Third%20Annual%20Green%20Building%20Survey_v5.pdf

Info courtesy of:

http://www.globest.com/news/1354_1354/losangeles/177097-1.html

4 GREEN BUILDING TRENDS 4U

4 GREEN BUILDING TRENDS 4U

By Jodi Summers

Green building concepts are being embraced with as much wild abandon as kids grasping for the coolest new video game. It started pretty basic – green construction, then evolved into green renovation, and now it’s branching out in all directions. Here are 4 green building trends to watch and invest….

1 - Modular Green Homes – One of the most successful investors in history, Warren Buffett, recently expanded one of his business subsidiaries, Clayton Homes, to produces a line of green modular homes. These 750-square-foot eco homes, dubbed “i-houses,” can be purchased online for less than $75,000. It’s a good bet that if Buffet is invested in it, the area will grow. Our hero is second richest man in the United States with a net worth of $40 billion.

The i-houses are constructed as modules in a factory and then assembled in the field. I-houses are marketed as “affordable luxury in a green, energy-efficient package.”

Beyond Buffett, there are others, such as Zeta Communities and Blu Homes in the green prefabricated market. Modular home construction will be a wise choice for builders going forward because it may allow developers reduce risk, allowing the development of large sites to take place as sales come in rather than building a planned community in larger phases before the units are sold out.

2 – Energy Retrofits – California state measure AB 1103, which requires the tracking of the energy use of all nonresidential buildings for disclosure to prospective buyers and tenants, is a fine example of how critical energy retrofits will be in the future. Much of the country’s real estate is old and wastes energy…eventually these properties will need to be upgraded or replaced. Not to mention, this is a cornerstone of President Obama’s post recession job creation movement.

Energy Star, the government, and local utilities have been offering rebates for property owners on measures like energy audits, insulation and duct sealing. SBI Energy predicts that the U.S. home energy retrofit market will grow about 15 percent per year to $35 billion by 2013, up from $20.7 billion in 2007.

David Leathers, senior vice president of energy services for mechanical contractor Limbach, confides that U.S. commercial building in the U.S. five years or older can likely benefit from a retrofit with payback for most measures taken in less than five years.

3 - Smart Building Materials - Energy-efficient building materials are the frame of green building. Serious Materials recently raised a $60 million third round of venture for the manufacture of energy-saving windows and environmentally friendly substitutes for sheetrock. More good investments - high-efficiency insulation system companies, such as walls with micro-encapsulated phase change materials to stabilize the indoor temperatures in buildings. More…Electrochromic technologies can darken or lighten the tint of a window when in contact with an electrical current, thus managing the amount of sunlight that passes through…Ventilated double-skin facades (already being used in Europe), use inner and outer glass walls with a thin cavity to provide insulation in between for the exterior shell of a building.

4 - More Energy Efficient Energy Codes - The American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE ) and the International Energy Conservation Code (IECC) are both developing the latest round of “model codes”— ASHRAE 90.1 and IECC — will likely require a 30 percent increase in energy efficiency.

Congress may soon mandate that all states raise their standards to the newest codes. The American Clean Energy and Security Act passed by the House this year includes a provision that would effectively create a baseline national building energy code by mandating the adoption of a standard set by the Department of Energy, who may very well call on the standards set forth by ASHRAE or IECC.

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http://earth2tech.com/2009/12/23/4-green-building-trends-to-watch-in-2010/

http://www.motherearthnews.com/Green-Homes/Green-Modular-Homes.aspx

http://en.wikipedia.org/wiki/Warren_Buffet

http://www.socalgreenrealestateblog.com/?p=841

http://www.ashrae.org/

http://www.icis.com/blogs/green-chemicals/2009/01/green-building-is-still-recess.html

http://www.newenglandmetalroof.com/construction_directory/green-building.gif

http://www.charlesandhudson.com/archives/eco-friendly-building-materials.jpg

LOS ANGELES MULTIUNIT PROPERTY SNAPSHOT – MARCH 2010

By Jodi Summers

And the good news is – research is indicating that the Los Angeles employment market is expected to stabilize in the second half of 2010. Following a loss of 115,000 jobs in 2009, payrolls are forecast to expand by 0.3 percent this year, with the addition of 13,000 positions, observes the 2010 National Apartment Index Report by Marcus & Millichap. The lack of job growth is hurting demand in the multifamily market, confirms Reis Research. “It is only when labor markets stabilize and recover that we will see a ramp-up in household formation that represents the greatest driver for rental apartments,” observes Victor Calanog, Reis research director.

Investors obviously feel that the Los Angeles market is stabilizing. Comparing February 2008 to February 2010, the number of under contract multiunit properties in Los Angeles is up 148%, according to Clarus Market metrics.

In 2009, the national vacancy rate for apartment properties rose 1.3 percentage points to 8%, the highest level since t in 1980. Average asking rents in the sector dropped 2.9% to $1,026/unit last year. Rents fell or held flat in 69 of the 79 markets tracked by Reis.

For years, Los Angeles has had low, low, low vacancy rates, hovering between 2-3 percent – making it a very attractive market. Even with the recession making higher priced units on the West Side less desirable, vacancy rates are still hovering between 5-6%. The National Apartment Index Report notes that the lingering high unemployment will continue to pressure owners to lower rents. Asking rents are expected to fall to $1,335 per month in 2010, while effective rents will slip to $1,263 per month, respective declines of 2.8 percent and 3.6 percent annually.

Now that the economy is coming back, Los Angeles multiunts are still attractive. Between Feb-08 vs. Feb-10, the number of for sale properties is down 44% and the number of sold properties is up 53%.

According to Realpoint, 6.53% of securitized loans backed by multifamily properties are delinquent, which is the CMBS market’s second-highest delinquency rate behind the hotel sector’s 8.09% rate.

Investors realize the current value of the Los Angeles, and there is a trend of cash-rich buyers shifting money out of the stock market and buying multiunit property with the intent of holding it for future generations. This is why the average months supply of inventory is down -79.8%

**

We would like your real estate business. If we can provide you with more detailed information, please contact the SoCal Investment Group through Jodi Summers, Jodi@jodisummers.com. We look forward to working with you in your next real estate transaction.

**

http://www.loopnet.com/xnet/mainsite/news/news.aspx?DocID=12898

http://www.reuters.com/article/idUSTRE5950PA20091006

http://www.socalmultiunitrealestateblog.com/?p=689

http://www.tierraproperties.com/current_market_data/metro_la_apt_vacancy_table.htm

http://realpropertyalpha.com/2009/08/17/metric-to-watch-apartment-vacancy-rate/

http://www.marcusmillichap.com/aboutus/News/Current/020510_los_mm.asp

https://www.terradatum.com/

CALGREEN – > CALIFORNIA NOW HAS THE COUNTRY’S GREENEST BUILDING STANDARD

By Jodi Summers

Bravo to us! California has adopted the greenest building standards in the United States…and the world.

The new code, called Calgreen, goes into effect next January 2011. It requires all builders to:

v Install plumbing that cuts indoor water use.

Mary Nichols, chairwoman of the California Air Resources Board, said the new building code would require developers to slash water use in their buildings by 20%, using more efficient toilets, shower heads and faucets.

v Divert 50 percent of construction waste from landfills to recycling.

v Use low-pollutant paints, carpets and floorings

v Buildings will be given certificates of occupancy occupied only after strict energy standards were verified.

In addition, for non residential buildings:

v Install separate water meters for different uses.

v Mandates the inspection of energy systems by local officials to ensure that heaters, air conditioners and other mechanical equipment in nonresidential buildings are working efficiently.

v It allows local jurisdictions, such as Los Angeles and San Francisco, to retain their stricter existing green building standards, or adopt more stringent versions of the state code if they choose.

“California should be proud… These are simple, cost-effective green practices. …” notes Tom Sheehy, acting secretary of the state Consumer Services Agency and chair of the California Building Standards Commission, which approved the standards. “This is (something) no other state in the country has done - integrating green construction practices into the very fabric of the construction code.”

While California’s largest metropolitan areas have adopted their own green building standards, these new regulations will be particularly useful for smaller jurisdictions that have been unable to develop their own green construction guidelines.

This is a positive alternative to LEED construction standards. Sites Sandra Boyle, an executive vice president of Glenborough, a developer, “The cost for owners to go through this rating system is astronomical — in a very challenging commercial real estate market.”

“You will have a whole bunch of cities that never would have included this in their building doing it, and doing it in a way that won’t kill the economy,” observes Matthew Hargrove, a vice president with the California Business Properties Association. “Outside the coastal areas it will be helpful - like in West Sacramento, where they looked into creating a green building code but balked because it’s cumbersome to develop and they didn’t have the resources.”

Buildings currently account for about one-quarter of the state’s total greenhouse gas emissions. These new standards are applauded as an important step in helping California meet its goal in reducing the state’s greenhouse gas emissions by 30 percent by 2020.

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http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2010/01/13/MNDR1BH9SA.DTL#ixzz0dJ9grkaW

http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2010/01/13/MNDR1BH9SA.DTL

http://www.latimes.com/business/la-fi-green-building11-2010jan11,0,1841989.story

http://www.thedailygreen.com/cm/thedailygreen/images/WA/Kohler-DualFlush-BR08-lg.jpg

LOS ANGELES 2010 - MULTIUNIT REAL ESTATE PREDICTIONS

Edited by Jodi Summers

The sun is shining again in Los Angeles. After two years of job cuts, payrolls are predicted to expand payrolls minimally in Los Angeles County in 2010, according to the 2010 National Apartment Index Report by Marcus & Millichap.

Los Angeles moves up two places this year to No. 13, thanks to perceived strengths in our marketplace. The hot spot is our sister city, San Diego, which rose four spots to No. 2 on the index due to expectations for resumed employment and household growth. (Washington, D.C., retained the top spot in the NAI for the second consecutive year, as ongoing government spending will fuel metrowide hiring and apartment demand.) New York City, which is the tightest apartment market in the country, finished in the No 3 spot.

Following are some of the most significant aspects of the Los Angeles Apartment Research Report:

* The local employment market is expected to stabilize in the second half. Following a loss of 115,000 jobs in 2009, payrolls are forecast to expand by 0.3 percent this year, with the addition of 13,000 positions.

* Rental completions will slow to 1,550 units in 2010, a 0.2 percent addition to inventory. Approximately 800 apartments are expected to come online in the San Fernando Valley due to continued job losses in the retail and construction sectors.

* Vacancy is forecast to tick up 20 basis points this year to 6 percent in response to ongoing stock additions.

* Lingering high unemployment will continue to pressure owners to lower rents. Asking rents are expected to fall to $1,335 per month in 2010, while effective rents will slip to $1,263 per month, respective declines of 2.8 percent and 3.6 percent annually.

Investors realize the current value of the Los Angeles, and there is a trend of cash-rich buyers shifting money out of the stock market and buying multiunit property with the intent of holding it for future generations.

“After watching the Los Angeles apartment market for years I have decided to move monies out of my stock portfolio and buy apartment buildings for my children,” noted one savvy investor.

A bolster for the multiunit market place is that Government-Sponsored Enterprise financing will remain available due to the GSE’s ongoing commitment to the asset class. (GSEs hold or pool approximately $5 trillion worth of mortgages.)

In conclusion, Marcus & Millichap expects, “Long-term rates to remain low this year, mortgage rates to stay relatively stable and lenders increasingly opting to work out extensions or modifications for loans rather than taking near-term losses. Seller financing, or assumable debt, will also become a big factor in transactions this year.”

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http://www.marcusmillichap.com/aboutus/News/Current/020510_los_mm.asp

http://www.globest.com/news/1580_1580/insider/183133-1.html

http://www.uli-la.org/node/382

http://en.wikipedia.org/wiki/Government-sponsored_enterprise#See_also

LOS ANGELES COUNTY MULTIUNIT PROPERTY SNAPSHOT – FEBRUARY 2010

DISPARITY BETWEEN BUYERS AND SELLERS

By Jodi Summers

Multiunit investors are not getting the value that they’re seeking in the Los Angeles West Side apartment building market, and are pulling unproductive sale properties from the market. Look at a two-year comparison, from January, 2008 vs. January 2010 - the number of for sale properties in Los Angeles County is down 46% and the number of sold properties is up 1%, according to Clarus Market Metrics.

The Federal Reserve bank’s recent survey of senior loan officers for 55 US banks and 23 foreign banks shows that credit–while not becoming looser–is not tightening. Creative lending has become a viable means of securing a multiunit transaction, which is why that comparing Jan-08 vs. Jan-10 the number of under contract properties is up 102%

If you’ve applied for a commercial mortgage in the past two years, you know that banks have tightened lending standards for this real estate sector. The relative few who are buying in this sector are finding tremendous satisfaction, as the median price of sold properties is down 63%.

FYI - Residential investment spending boosted overall economic growth by +0.1 percentage point. In 4Q 2009.

**

We would like your real estate business. If we can provide you with more detailed information, please contact the SoCal Investment Group through Jodi Summers, Jodi@jodisummers.com. We look forward to working with you in your next real estate transaction.

**

http://www.cirbdata.com/

https://www.terradatum.com/

http://www.globest.com/news/1590_1590/washington/183353-1.html

http://www.globest.com/news/1590_1590/washington/183353-1.html

http://www.socalgreenrealestate.com

http://www.laedc.org/eedge/index.html#1

Energy to Sell - States with Renewable Portfolio Standards

States with Renewable Portfolio Standards

Edited by Jodi Summers

Here is a nifty map and chart from the U.S. Department of Energy showing states with renewable portfolio standards - a state policy that requires electricity providers to obtain a minimum percentage of their power from renewable energy resources by a certain date.

California is stellar with the objective of 33% renewable energy by 2030, but not nearly as aggressive as Maine, which is shooting for 40% renewable by 2017.

Currently there are 24 states plus the District of Columbia that have RPS policies in place. Together these states account for more than half of the electricity sales in the United States. Five other states, North Dakota, South Dakota, Utah, Virginia, and Vermont, have nonbinding goals for adoption of renewable energy instead of an RPS.

The chart below gives a rough summary of state renewable portfolio standards and links to organizations that are administering these standards or explain the details involved. Percentages refer to a portion of electricity sales and megawatts (MW) to absolute capacity requirements. Most of these standards phase in over years, and the date refers to when the full requirement takes effect.

http://apps1.eere.energy.gov/states/maps/renewable_portfolio_states.cfm?prin