The plan for Pacific Gas and Electric (PG&E), the California utility, to enter bankruptcy to manage its $30 billion wildfire liabilities has sent shockwaves through the U.S. energy industry, raising concerns about the outlook for investment in renewable power in the state and beyond.

Credit ratings for several businesses that supply power to PG&E were cut sharply last week, potentially raising the cost of capital for the industry and creating additional difficulties for California’s plan to source 100% of its electricity from low-carbon technologies by 2045.

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