More than 300% increase in projected solar and wind generation development as compared to last year's integrated resource plan update filing; Energy storage grows by more than 700%.
Reflects targets mandated in Virginia Clean Economy Act.
Diverse fuel mix provides reliability, affordability and regional emissions reductions.
Expansion of renewable and energy storage resources will put Virginians to work by creating thousands of jobs and generating substantial economic benefits for the Commonwealth.
In just one year, Dominion Energy Virginia has quadrupled the amount of solar and wind generation in its 15-year, long-term integrated resource plan (IRP). The increase is driven, in part, by Governor Ralph Northam's executive order on climate change and the Virginia Clean Economy Act passed by the General Assembly.
The expansion of renewable energy development will give Virginians significant access to more renewable energy and create thousands of clean energy jobs. Dominion Energy Virginia issued a request for proposals today soliciting bids for up to 1,000 megawatts (MW) of solar and onshore wind generation and up to 250 MW of energy storage in the Commonwealth. This is the largest solicitation in the Company's history for renewable energy in a calendar year and will promote its efforts toward a clean energy future.
Projected expansion of offshore wind, solar, and energy storage development amounts to approximately 24,000 new megawatts of renewable energy and storage capacity over the next 15 years.
The long-term IRP includes:
More than 5,000 megawatts of offshore wind is planned by 2035, including the 2,600 MW Coastal Virginia Offshore Wind project already announced by Dominion Energy. This offshore wind deployment—the largest in North America—has a targeted in-service date of late 2026.
Dominion Energy's solar fleet, already the 4th largest among US utility holding companies, is projected to grow significantly as the Dominion Energy Virginia long-term IRP calls for the development and procurement of approximately 16,000 megawatts in the state over the next fifteen years.
Energy storage capacity is projected to expand to approximately 2,700 megawatts, meeting the most ambitious targets in the country set in the VCEA. This includes battery storage pilots already approved and scheduled to be online in Virginia next year.
About Dominion Energy
More than 7 million customers in 20 states energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in Richmond, Va. The company is committed to sustainable, reliable, affordable and safe energy and is one of the nation's largest producers and transporters of energy with more than $100 billion of assets providing electric generation, transmission and distribution, as well as natural gas storage, transmission, distribution and import/export services. The company is committed to achieving net zero carbon dioxide and methane emissions from its power generation and gas infrastructure operations by 2050. Please visit DominionEnergy.com to learn more.
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