If approved, the projects are expected to generate 772 MW of electricity, or enough to power about 200,000 Virginia homes.
Dominion Energy proposed in its annual clean energy filing with the Virginia State Corporation Commission (SCC) more than a dozen new solar projects for Virginia customers. If approved, the company estimates that the projects will generate 772 MW of electricity, or enough to power nearly 200,000 Virginia homes at peak output.
Dominion Energy is a power and energy company headquartered in Richmond, Virginia that supplies electricity to residents in parts of Virginia, North Carolina, and South Carolina. The company also supplies natural gas to parts of North Carolina, South Carolina and other areas. The company has stated the goal of achieving net zero emissions by 2050.
In addition to moving the company toward its own clean energy goals, the projects will also help the company achieve the requirements of the Virginia Clean Economy Act (VCEA), which mandates that the state, via a renewable portfolio standard, must derive at least 1% of its generation mix from solar energy.
Further incentive comes from the federal funding offered in the Inflation Reduction Act that offers an extended investment tax credit (ITC) along with various adders, plus the production tax credit (PTC).
Dominion’s proposal includes six solar projects that, if approved, would total 337 MW that will be owned or acquired by Dominion Energy Virginia. It also includes 13 power purchase agreements (PPAs) totaling 435 MW with independently owned solar projects. The PPAs were selected through a competitive solicitation process.
“These projects support our ongoing efforts to deliver reliable, affordable and increasingly clean energy to our customers,” said Ed Baine, president of Dominion Energy Virginia. “They will also bring jobs and economic benefits to communities across the Commonwealth.”
If these projects are approved, Dominion will have more than 4.6 GW of solar in Virginia, or enough to power more than 1.1 million homes at peak output.
In order for the projects to move forward, Dominion must secure SCC approval, and the utility-owned projects require local and state permits. If approved, construction is expected to be complete between 2024 and 2026. The company estimates that construction of the projects will support more than 1,600 jobs and generate more than $570 million in economic benefits across Virginia.
Dominion reports that the cost of the projects is estimated to add approximately $1.54 to the average residential customer’s monthly bill. According to EnergySage, electric rates in Virginia are 14 cents per kWh, which is 12% lower than the national average.
