Dominion Energy is proposing a dozen new solar and energy storage projects for customers in Virginia. If approved, they will provide over 800MW of carbon-free electricity. This electricity will be able to power more than 200,000 homes in Virginia during peak periods.
A power purchase agreement
Dominion Energy is proposing 10 solar energy and energy storage projects. They total nearly 500MW. The proposal also includes power purchase agreements for 13 solar and energy storage projects.
These projects total more than 300MW and will be owned by independent developers. A competitive bidding process selected the power purchase agreements. Ed Baine, president of Dominion Energy Virginia says:
“These projects are another important step in delivering clean, affordable and reliable energy to our customers. The transition to clean energy creates jobs and economic opportunity in Virginia communities, and it reduces fuel costs for our customers. Everyone wins, both our customers and the communities we serve.”
Positive economic spin-offs
These projects will support nearly 4800 jobs in the renewable energy sector. They will also generate more than $920 million in economic benefits to Virginia. For Dominion Energy, if approved, completion would occur between 2023 and 2025.
The cost of construction will add approximately $0.38 to the average residential customer’s monthly bill. Virginia’s rates will remain below the national averages. Two projects, Kings Creek Solar and Ivy Solar, are also under construction and will produce 200MW of solar energy.
