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05 Oct 2023

Dominion Energy Proposes New Solar Projects in Virginia

05 Oct 2023  by reuters   

Electric power transmission pylon miniatures and Dominion Energy logo are seen in this illustration taken, December 9, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing Rights
Dominion Energy (D.N) is planning to boost solar power generation in Virginia to 4,600 megawatts (MW) as it looks to take advantage of federal incentives for clean energy.

The proposal, if approved, will help the company add six solar plants in the state and include 13 power purchase agreements with the combined capacity of 772 MW, the utility said on Wednesday.

Dominion and other large U.S. utilities with renewable projects are set to benefit from new federal clean-energy funding in the $430 billion Inflation Reduction Act.

The act provides billions of dollars in tax credits and direct payments for solar, wind, battery and other energy sources to transition from fossil fuels.

The cost of the projects is estimated to add about $1.54 to the average residential customer's monthly bill, Dominion said, adding that the construction of the utilities is expected to be completed between 2024 and 2026.

The company in early August also stated that its roughly $10 billion Coastal Virginia Offshore Wind project was on track for completion in late 2026.

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