ABC News in Southern California is reporting that the The Los Angeles City Council has agreed to install renewable solar energy (solar panels) on rooftops throughout the city of Los Angeles. This mass installation will equate to roughtly 400 Megawatts, which can service approximately 100,000 customers throughout the southland. The project is going to cost an estimated 3 billion dollars and plays off the Solar Job Initiative, which was passed by Los Angeles Mayor Antonio Villaraigosa back in February, 2008. 

This decision comes 4 days after Proposition 7 was denied, which was an initiative that would have required utilities, including government-owned utilities, to generate 20% of their power from renewable energy (solar) by the year 2010. Proposition 7 would have generated approximately 400,000 jobs, but was voted against by by 60% of Californians. Because the city passed the Solar Job Initiative in February, the Los Angeles City Council did not have to obtain votes via the city and the plan will move ahead as voted. 

Source: Trading Markets.com, ABC News