Significant Expansion of Solar and Energy Storage Approved for Dominion Energy Virginia Customers

Rhea-AI Summary

Dominion Energy Virginia has received approval from the Virginia State Corporation Commission for a substantial expansion of solar and energy storage projects, totaling nearly 1,000 megawatts, enough to power 250,000 homes. This initiative includes 15 company-owned projects and 24 third-party projects, generating approximately $880 million in economic activity and supporting 4,200 jobs. The projects aim to further Dominion's commitment to achieving net zero greenhouse gas emissions by 2050, with construction set to complete by 2022 and 2023, resulting in a modest increase of $1.13 to monthly residential bills.

Positive

• Approval of nearly 1,000 megawatts of solar and energy storage projects.
• Support for approximately 4,200 jobs and $880 million in economic activity.
• Advancement toward net zero greenhouse gas emissions by 2050.

Negative

• Projected increase of $1.13 in typical residential customers' monthly bills.

• New projects total nearly 1,000 megawatts, enough to power about 250,000 homes
• Projects will support 4,200 jobs and $880 million in economic activity
  

RICHMOND, Va., March 16, 2022 /PRNewswire/ -- The Virginia State Corporation Commission (SCC) approved on Tuesday a significant expansion of new solar and energy storage projects for Dominion Energy Virginia customers. Once in operation, the projects will provide nearly 1,000 megawatts of carbon-free electricity, enough to power about 250,000 Virginia homes at peak output.

The approved expansion includes 15 Dominion Energy Virginia projects, as well as power purchase agreements (PPAs) with 24 other projects owned by third-party developers. The projects will help advance Dominion Energy's path to net zero greenhouse gas emissions and meet the future energy needs of its customers.

"This is another significant milestone in Virginia's transition to energy independence," said Ed Baine, president of Dominion Energy Virginia. "These projects will support thousands of good jobs and hundreds of millions in economic activity in communities across Virginia. This is a positive step forward for our customers, the environment and Virginia's economy."

Construction of the 15 Dominion Energy Virginia projects is expected to generate more than $880 million in economic benefits across Virginia and will support nearly 4,200 jobs. The projects are expected to be completed in 2022 and 2023 and will add approximately $1.13 to the typical residential customers' monthly bill.

About Dominion Energy
About 7 million customers in 13 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 sustainable, reliable, affordable and safe energy and to achieving net zero carbon dioxide and methane emissions from its power generation and gas infrastructure operations by 2050. Please visit DominionEnergy.com to learn more.

View original content to download multimedia:https://www.prnewswire.com/news-releases/significant-expansion-of-solar-and-energy-storage-approved-for-dominion-energy-virginia-customers-301503791.html

SOURCE Dominion Energy

FAQ

What are the new projects approved for Dominion Energy Virginia?

The Virginia State Corporation Commission approved nearly 1,000 megawatts of solar and energy storage projects.

How many jobs will the new projects create for Dominion Energy Virginia?

The projects are expected to support approximately 4,200 jobs.

What is the economic impact of the new Dominion Energy projects?

The projects will generate about $880 million in economic activity.

When are the new Dominion Energy Virginia projects expected to be completed?

The construction of the projects is expected to be completed in 2022 and 2023.

How much will residential bills increase due to the new projects?

The projects are projected to increase typical residential customers' monthly bills by $1.13.