Virginia

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.

Page last modified: Thursday, August 20, 2020
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