(Bloomberg) -- California regulators approved $8.9 billion of energy-conservation programs as part of the state’s effort to reduce greenhouse gas emissions and combat global climate change. 

The California Public Utilities Commission on Thursday authorized $4.3 billion of utility energy-efficiency initiatives for 2024 to 2027, and forecast an additional $4.6 billion for 2028 to 2031, according to a statement from the agency. 

The programs, which largely will be carried out by the state’s investor-owned utilities and regional groups, will offer incentives for residents to make their homes more energy efficient, electrify their dwellings and install smart appliances and battery storage. Money will be set aside for programs to target underserved or disadvantaged communities, the commission said. 

California has set a goal of becoming carbon-neutral by 2045. 

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