CA SB702

Allows retail sellers to count contracts entered into before January 1, 2019 by direct access nonprofit educational institution customers for renewable energy resources located at the customer's meter toward the 65% long-term procurement requirement beginning January 1, 2021.

Requires retail sellers to procure at least 65% of their renewable energy from contracts of 10 years or more in duration or ownership agreements for eligible renewable energy resources.

Establishes renewable energy procurement targets requiring 25% by December 31, 2016, 33% by December 31, 2020, 44% by December 31, 2024, 52% by December 31, 2027, and 60% by December 31, 2030.

Requires retail sellers to submit annual compliance reports and procurement plans to the Public Utilities Commission detailing progress toward renewable energy targets.

Applies to electrical corporations, local publicly owned electric utilities, community choice aggregators, and electric service providers under California's Renewables Portfolio Standard Program.