Dominion Energy Virginia has proposed its largest slate yet of new solar projects as the company moves forward to provide customers with more clean energy.
The nine solar facilities would bring nearly 500 megawatts (MW) of new renewable energy to customers, enough to power around 125,000 homes at peak output. The proposal comes just months after enactment of the Virginia Clean Economy Act (VCEA) and builds on what is already the third-largest solar portfolio among utility holding companies in the United States.
“This filing is another concrete step toward our commitment to bring more renewable energy to Virginia and build a clean, sustainable future for our customers and our Commonwealth. We are focused on adding significant renewable energy resources, such as solar and wind, over the next 15 years while maintaining our commitment to excellent reliability and delivering an excellent value to our customers.”Ed Baine, president – Dominion Energy Virginia.
Six of the nine new solar projects totaling 416 of the 498 megawatts of energy at peak output are power purchase agreements selected following a competitive solicitation process.
This collaborative approach with solar developers contributes to building a clean energy economy in the Commonwealth and helps fulfill the VCEA requirement to have approximately a third of new solar and onshore wind through 2035 be procured through power purchase agreements.
The three utility-owned solar projects are expected to provide over $100 million in direct and indirect economic benefits in Virginia.
Each of the facilities is under development and subject to approval by the State Corporation Commission before construction begins.
The solar projects proposed, if approved, will add less than 20-cents to the typical residential customer’s bill and will be offset in part by fuel savings. These resources will aid Dominion Energy in meeting its obligations under the VCEA’s mandatory renewable portfolio standard (RPS), which generally requires that 100% of its electricity sales in the Commonwealth be sourced from clean energy sources by 2045.
Today’s filing includes Dominion Energy’s RPS Development Plan detailing a strategy for RPS compliance through 2035 and achievement of certain VCEA targets for solar/onshore wind and energy storage development in the same timeframe. The filing also provides projections of long-term cost, together with ways expenses can be reduced, including savings in fuel as traditional energy generation is displaced by renewable energy.
Solar generation is a vital part of Dominion Energy’s comprehensive clean energy strategy to meet standards outlined in the VCEA and to achieve the companywide commitment to net zero carbon dioxide and methane emissions by 2050.