*By Alisha Haridasani*
California, the state most aggressively pursuing clean energy policies, became the first in the country to require almost all new homes have solar panels.
The new rule, adopted by the California Energy Commission on Wednesday, will apply to all residential buildings up to three stories tall built after January 1, 2020.
This change in the building code is expected to add around [$10,000](http://www.energy.ca.gov/title24/2019standards/documents/2018_Title_24_2019_Residential_Standards.pdf) to the cost of a new home. But the commission [estimated](http://www.energy.ca.gov/releases/2018_releases/2018-05-09_building_standards_adopted_nr.html) the panels could save home owners around $80 a month on utility bills, and will slash greenhouse gas emissions “by an amount equivalent to taking 115,000 fossil fuel cars off the road.”
The requirement is part of California’s push to get half the state's electricity from renewable sources by 2030. The state already relies on renewables for around 25 percent of its electricity, and it is expected to rise to around 33 percent by 2020.
The California Building Standards Commission must formally adopt the rule, which it is expected to do, said Mark Kaufman, Mashable’s science reporter. “California is really keen on solar, just like Texas is really keen on wind,” Kaufman said.
Shares of solar companies, such as SunRun and First Solar, rallied on Thursday.
U.S. stocks closed Thursday at their lowest levels of the trading day, as investors continue to eye inflation ahead of the May CPI report out Friday. Art Hogan, Chief Market Strategist for National Holdings, joins Cheddar News' Closing Bell to discuss.
U.S. markets opened sharply lower on Friday on hotter-than-expected inflation data. The May CPI showed an 8.6% jump in consumer prices year-over-year, higher the expected 8.3%. Mark Howard, Senior Multi-Asset Specialist at BNP Paribas joined Cheddar's Opening Bell to discuss.
U.S. stocks closed Friday at session lows after May CPI data showed inflation in the U.S. has not peaked and is still rising rapidly. For the week, the S&P fell 5.06%, the Dow lost 4.58%, and the Nasdaq dropped 5.60%, marking the worst week since January for all three major indexes. Mike Zigmont, Head of Trading and Research at Harvest Volatility Management, joins Cheddar News' Closing Bell to discuss.
Benefits brokerage, Nava Benefits, raised $40 million in a Series B round. Nava says it's on a mission to fix healthcare, one benefits plan at a time. The startup is working to bring benefits to small business that are normally available to only Fortune 500 companies. Brandon Weber, Co-Founder and CEO of Nava Benefits, joined Cheddar News' Closing Bell to discuss.
The electric vehicle maker filed a proposal for a three-for-one stock split, increasing the accessibility of shares for investors for a stock trading at around $700 a share. The move comes not long after tech giant Amazon announced a 20-for-one split. The number of authorized shares rises from two billion to six billion. It was also revealed that board member Larry Ellison does not intend to stand for reelection as it pertains to Tesla.
President Biden proposed a new rule that would add 500,000 chargers for electric vehicles nationwide. The proposal comes amid the rapid shift to EVs with dozens of automakers announcing plans for all-electric fleets within the next decade. But with the new surge will the U.S. have the proper infrastructure to keep up? Scott Painter, founder and CEO of Autonomy.com joined Cheddar's Opening Bell to discuss. "I really think the idea of standardization is a big deal. Standardization certainly makes it much better for everybody to be able to get a charge when they need one," he said.
