Virginia's Solar Surge: Dominion's 764 MW Expansion Approved
- Virginia approves Dominion Energy's 764 MW solar power expansion, creating jobs and economic benefits while increasing renewable energy capacity.
Dominion Energy Inc has received approval from Virginia regulators to add 764 MW of solar power capacity to its fleet in the state through new installations, acquisitions, and off-take deals. The Virginia State Corporation Commission has given the green light for Dominion to sign 13 power purchase agreements for 435 MW of independently owned projects selected through a competitive tender. Additionally, Dominion will add 329 MW from four projects that it will either install or acquire, including the Beldale Solar, Blue Ridge Solar, Bookers Mill Solar, and Michaux Solar projects.
The construction of these projects is expected to create over 1,600 jobs and bring in more than USD 570 million in economic benefits across Virginia. Dominion plans to bring the new solar capacity online by 2026, with the cost of the projects estimated to increase the average residential customer's monthly bill by around USD 1.54. Once operational, the projects will provide electricity for nearly 200,000 homes at peak output, increasing Dominion's total solar PV assets in Virginia to 4.6 GW.
What are the economic benefits of Dominion Energy's new solar projects in Virginia?
- The construction of Dominion Energy's new solar projects in Virginia is expected to create over 1,600 jobs, providing a boost to the local economy.
- The projects are projected to bring in more than USD 570 million in economic benefits across Virginia, including revenue for local businesses and increased tax revenue for the state.
- Once operational, the new solar capacity will provide electricity for nearly 200,000 homes at peak output, reducing the reliance on fossil fuels and lowering carbon emissions.
- The addition of 764 MW of solar power capacity will help diversify Virginia's energy mix, increasing energy security and reducing the risk of price fluctuations in the future.
- Dominion's investment in solar projects will contribute to the growth of the renewable energy industry in Virginia, attracting more investment and creating a more sustainable energy future for the state.
