Dominion Energy plans to add 3GW of solar and wind capacity by 2022
Dominion Energy Virginia customers stand to benefit from a smarter, stronger and greener energy grid in the first set of plans filed today under the Grid Transformation & Security Act (GTSA). The landmark legislation, signed by Gov. Ralph Northam, became effective July 1 and provides a roadmap for Virginia’s energy future. Dominion Energy is committing to having 3,000 megawatts of new solar and wind — enough to power 750,000 homes — under development or in operation by the beginning of 2022.
“Thanks to the Grid Transformation & Security Act, Dominion Energy plans to develop a system that meets the increasingly complex demands and expectations of our customers,” said Ed Baine, Senior Vice President – Power Delivery. “And we are doing it with more renewable energy.”
The law paves the way for expanded investments in renewable energy, smart grid technology, a stronger, more secure grid and energy efficiency programs, all while keeping rates affordable. It provides hundreds of millions of dollars in bill credits and rate reductions for customers, and expands the EnergyShare program to help Virginia’s most vulnerable citizens.
The Grid Transformation & Security Act includes provisions for:
- $200 million in bill credits to customers, and $125 million in annual rate cuts due to tax relief
- Modernizing the energy grid to improve reliability, resiliency and the ability to integrate more renewable energy and emerging technology
- Significantly expanding the company’s renewable energy fleet in Virginia
- Future testing of wind turbines off the coast of Virginia Beach
In today’s regulatory filing, the company asked the State Corporation Commission (SCC) to approve the programs, investments and costs included in the first three years of the 10-year grid transformation program. The company will update the plan and request approval of additional programs and spending in later filings with the SCC.