At a time when communities and shoppers throughout the Commonwealth are demanding extra regionally produced, reasonably priced and dependable vitality, Virginia’s leaders are counting on utilities that hurt residents and companies. As a substitute of giving ratepayers aid from inflationary vitality prices, the Virginia State Company Fee (SCC) lately permitted Dominion Power’s request for one more price enhance of almost $15 per thirty days — all whereas the utilities introduced dwelling file earnings. (Disclosure: Dominion is one in all our donors however donors haven’t any say in information choices; see our coverage).
The time has come for the Normal Meeting to place the folks above the highly effective monopolistic utility firms. A technique lawmakers can do that’s to move frequent sense laws that may supply Virginians entry to an expanded shared photo voltaic program that produces vitality invoice financial savings. Shared photo voltaic is a program created in 2020 that enables Virginians to “subscribe” to the vitality produced by a small off-site photo voltaic set up.
Utility firms have a assured return on funding. Take Dominion, which is assured to generate earnings equal to 9.35% on fairness. Within the final 5 years alone, Dominion has grossed a whole lot of tens of millions of {dollars}. These {dollars} are on prime of collections from taxpayers and will probably be delivered to shareholders, together with Dominion executives, as earnings above and past their assured return on fairness. And, simply this summer time, one other price hike was permitted to assist the corporate get better from unstable gasoline costs. An expanded shared photo voltaic program would insulate shoppers from unstable gasoline costs.
As a substitute of offering monetary aid to shoppers, the SCC permitted guidelines governing Virginia’s shared photo voltaic program that embrace a $55 participation price, one of many highest within the nation. As a substitute of serving to Virginians get monetary savings by permitting them to subscribe to shared photo voltaic, Richmond bureaucrats are placing these financial savings out of attain — and permitting utilities to take care of their management over our utilities. vitality choices.
However, sufficient is sufficient.
A current ballot carried out by a revered pollster in Virginia discovered that 61% of voters are much less more likely to vote to re-elect their legislator in the event that they help present limitations to shared possession. -access to photo voltaic and Commonwealth storage.
On the similar time, a brand new financial examine launched by the Coalition for Neighborhood Photo voltaic Entry reveals that lowering limitations that stop shoppers from taking part in shared photo voltaic packages would create 12,000 new jobs. jobs and generate almost $5.6 billion in financial exercise. New photo voltaic developments will also be constructed on marginal land, paying landowners, together with generational household farms, $12 million in annual lease funds.
By growing the variety of shared photo voltaic installations throughout the state, Virginians may have extra native clear vitality to energy their properties and companies.
Shared photo voltaic developments are an financial win for landowners, taxpayers and communities. For years, Virginia households have been lucky sufficient to personal their dwelling and afford the prices of putting in a roof that harvests photo voltaic vitality financial savings. Nevertheless, for individuals who hire or can’t afford the upfront price of installations, financial savings usually are not an choice.
Constructing extra photo voltaic tasks will broaden Virginia’s shared photo voltaic program, successfully reaching extra communities throughout the Commonwealth. Households taking part in shared photo voltaic packages can save a mean of 10 p.c or extra on their electrical energy payments at a time when many are in search of monetary aid from inflation.
Transferring towards cleaner vitality sources will enhance Virginia’s vitality independence and make us much less depending on unstable fossil fuels – one thing we must always help. As a member of the Norfolk Metropolis Council and chair of the area’s resilience subcommittee, I can’t understate the significance of diversifying our gasoline combine from fossil fuels to scrub, renewable sources to scale back the impression of sea stage rise and the its impression on my neighborhood.
Virginia lawmakers needs to be serving to their constituents get monetary savings – not lining the pockets of utility firms and their shareholders. Now could be the time for lawmakers to get out of the best way and let Virginians profit from shared photo voltaic.
