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On April 12, 2020, Governor Ralph Northam signed the Virginia Clean Economy Act (VCEA), establishing a mandatory Renewable Portfolio Standard (RPS) in Dominion and Appalachian Power Company (APCo) service territories. A primary component of the VCEA is that 1% of Dominion’s RPS compliance obligation must come from in-state distributed generation solar resources (DG) smaller than 1 MW in nameplate capacity. This requirement will represent approximately 90 MW in 2021 and increase to approximately 250 MW by 2030, thus supporting the development of about 160 MW of DG solar over the next nine years.
Markets for VA systems
Eligible System Locations
Reaching 0.75% of total electricity generated in 2025.
A system’s eligibility start date is based on the system’s interconnection date or the beginning of the current calendar year (whichever happened second at the time of application submission). For example, a system operational in November 2021 that did not submit its application until February 2022 would only receive credit from January 1, 2022 onward.
The Solar Alternative Compliance Payment (SACP) is the penalty price that electricity suppliers must pay per SREC if they fail to file the required number of SRECs by the end of each compliance period. The VA SACP is set at $75 in 2021 and increases by 1% annually thereafter.
The useful life of an VA SREC is 5 years (i.e., a 2021 SREC can be counted towards the 2021, 2022, 2023, 2024, or 2025 compliance periods).
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