New Solar and Energy Storage Projects Approved for Dominion Energy Virginia Customers

Rhea-AI Summary

On April 14, 2023, the Virginia State Corporation Commission approved nearly two dozen solar and energy storage projects by Dominion Energy Virginia. These projects will generate over 800 megawatts of carbon-free electricity, enough to power 200,000 homes. Expected fuel savings for customers exceed $250 million in the first decade. The initiative aims to enhance energy reliability and affordability while supporting economic growth in Virginia, projected to deliver more than $920 million in economic benefits and thousands of jobs. Construction costs will add approximately $0.38 to the average residential customer's monthly bill, with completion expected by 2025. Dominion Energy continues its commitment to providing sustainable energy solutions.

Positive

• Approval of nearly two dozen solar and energy storage projects, generating over 800 MW of clean energy.
• Expected fuel savings of over $250 million for customers in the first 10 years.
• Projected economic benefits exceeding $920 million and job creation.
• Dominion Energy's rates remain below national averages.

Negative

• Construction will raise residential monthly bills by approximately $0.38.

• Projects exceed 800 megawatts, enough clean energy to power 200,000 Virginia homes
• Customers will see more than $250 million in fuel savings in first 10 years of operation

RICHMOND, Va., April 14, 2023 /PRNewswire/ -- The Virginia State Corporation Commission (SCC) approved today nearly two dozen new solar and energy storage projects to help meet the growing needs of Dominion Energy Virginia customers.

Once in operation, the projects will generate more than 800 megawatts (MW) of carbon-free electricity, enough to power about 200,000 Virginia homes at peak output. Because renewable energy does not require fuel, the projects are expected to deliver more than $250 million in fuel savings for customers during their first 10 years of operation.

"This is another big step forward in delivering reliable, affordable and cleaner energy to our customers," said Ed Baine, President of Dominion Energy Virginia. "These projects will bring jobs and economic opportunity to our communities, and they will deliver fuel savings for our customers. That's a win-win for Virginia."

The SCC approval includes nine solar projects and one energy storage project – totaling nearly 500 MW – that will be owned and operated by Dominion Energy Virginia. Two of the projects – Kings Creek Solar and Ivy Landfill Solar – will be built on previously developed land. Ivy Landfill Solar will be the company's first solar project developed on a former landfill.

The SCC also approved power purchase agreements (PPAs) with 13 solar and energy storage projects – totaling more than 300 MW – that are owned by independent developers.

Construction of the projects is projected to support thousands of jobs and more than $920 million in economic benefits across Virginia. Additional details about the utility-owned projects are below:

Bridleton Solar	20 MW	Henrico County
Cerulean Solar	62 MW	Richmond County
Courthouse Solar	167 MW	Charlotte County
Ivy Landfill Solar	3 MW	Albemarle County
King's Creek Solar	20 MW	York County
Moon Corner Solar	60 MW	Richmond County
North Ridge Solar	20 MW	Powhatan County
Racefield Solar	3 MW	James City County
Shands Storage	15.7 MW	Sussex County
Southern Virginia Solar	125 MW	Pittsylvania County

The SCC's approval today will add approximately $0.38 to the average residential customer's monthly bill, with construction of the fuel cost-free renewable projects expected to be complete by 2025. Dominion Energy Virginia's rates remain below the national, mid-Atlantic and east coast averages. 

About Dominion Energy

About 7 million customers in 16 states energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in Richmond, Va. The company is committed to safely providing reliable, affordable and sustainable energy and to achieving Net Zero emissions by 2050. Please visit DominionEnergy.com to learn more.

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SOURCE Dominion Energy

FAQ

What are the new solar and energy storage projects by Dominion Energy Virginia approved on April 14, 2023?

The Virginia SCC approved nearly two dozen solar and energy storage projects generating over 800 MW of carbon-free electricity.

How much will customers save with the new projects from Dominion Energy Virginia?

Customers are expected to see more than $250 million in fuel savings over the first ten years.

What is the economic impact of these new projects approved for Dominion Energy Virginia?

The projects are projected to deliver over $920 million in economic benefits and create thousands of jobs.

How will the new projects affect residential energy bills?

The construction of the projects will add approximately $0.38 to the average residential customer's monthly bill.

When is the expected completion date for the new Dominion Energy Virginia projects?

The construction of the projects is expected to be complete by 2025.