Abstract

This research reviews public benefit funds (PBFs), one potential policy instrument for future water investment. These mechanisms, usually supported by per‐usage customer surcharges, are widely used to fund clean energy initiatives. This study reviews the existing literature on these tools and then takes a case study approach to investigate one specific PBF program—California's electricity public goods charge (PGC), used to finance energy efficiency, renewable energy, and energy research and development. The authors' analysis finds that customers, utilities, and the state benefited environmentally and economically from the PGC program. Following the electricity sector's lead, PBFs for water could be vital for strengthening public investment in water by creating a dedicated fund for programs and projects that enhance system resiliency, modernize infrastructure, improve network performance, and increase innovation in the water sector and beyond.

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