SB1040: Electric utilities; renewable energy portfolio standard program requirements.

Legislative Summary

Electric utilities; renewable energy portfolio standard program requirements; power purchase agreements. Amends certain renewable energy portfolio standard program requirements for Dominion Energy Virginia, including (i) the annual percentage of program requirements to be met with behind-the meter solar, wind, or anaerobic digestion resources of three megawatts or less located in the Commonwealth and (ii) the date by which 75 percent of such requirements shall be met with resources located in the Commonwealth. The bill also removes the requirement for a solar-powered or wind-powered generation facility to have a capacity of no less than 50 kilowatts to qualify for a third party power purchase agreement under a pilot program. The bill permits Dominion Energy Virginia to recover certain costs prior to December 31, 2032, and provides that it is the policy of the Commonwealth to encourage development on previously developed project sites, as defined in existing law, to reduce the land use impacts of solar development. This bill is identical to HB 1883.