Virginia
Overview
The Virginia Clean Economy Act (April 2020) establishes a mandatory Renewable Portfolio Standard (RPS), which sets Virginia on a path to reach 100 percent clean electricity by 2050. The law applies to two large investor-owned utility companies in the state, Dominion Energy and Appalachian Power Company.
Geographic Eligibility
From 2021 to 2024, Dominion and Appalachian Power may use RECs from any renewable energy facility located in Virginia or located within the PJM region. In 2025 and thereafter, at least 75% of all RECs used by Dominion must be sourced from RPS Eligible resources located in Virginia.
Reporting Year
January 1 through December 31
Banking
RECs can be used in the year the renewable energy was generated or the five calendar years thereafter.
Solar Requirement
None
Renewable Energy Sources
RPS Eligible resources:
- Solar
- Wind (onshore and offshore)
- certain Hydro
- certain Waste-to-Energy and Landfill Gas located in VA
- certain Biomass located in VA
| RPS Percentages |
|
| Reporting Year |
APCo |
Dominion |
| 2021 |
6% |
14% |
| 2022 |
7% |
17% |
| 2023 |
8% |
20% |
| 2024 |
10% |
23% |
| 2025 |
14% |
26% |
| 2026 |
17% |
29% |
| 2027 |
20% |
32% |
| 2028 |
24% |
35% |
| 2029 |
27% |
38% |
| 2030 |
30% |
41% |
| 2035 |
45% |
59% |
| 2040 |
65% |
79% |
| 2045 |
80% |
100% |
| 2050 |
100% |
|
Alternative Compliance Payments
Deficiency payments in 2021:
- Renewables - $45/MWh
- Distributed Generation (<1 MW) - $75/MWh
Increasing by one percent annually after 2021.