At a time when communities and customers throughout the Commonwealth are demanding extra domestically produced, inexpensive and dependable power, Virginia’s leaders are counting on utilities that hurt residents and companies. As a substitute of offering ratepayer aid from inflationary power prices, the Virginia State Company Fee (SCC) just lately permitted Dominion Vitality’s request for one more price improve of practically $15 per thirty days – all whereas the utilities introduced residence file revenue. (Disclosure: Dominion is considered one of our donors however donors haven’t any say in information choices; see our coverage).
The time has come for the Common Meeting to place the individuals above the highly effective monopolistic utility firms. A method lawmakers can do that’s by passing widespread sense laws that may provide Virginians entry to an expanded shared photo voltaic program that produces power invoice financial savings. Shared photo voltaic is a program created in 2020 that enables Virginians to “subscribe” to the power 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 revenue equal to 9.35% on fairness. Within the final 5 years alone, Dominion has grossed tons of of thousands and thousands 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 season, one other price hike was permitted to assist the corporate get better from unstable gasoline costs. An expanded shared photo voltaic program would insulate customers from unstable gas costs.
As a substitute of offering monetary aid to customers, the SCC permitted guidelines governing Virginia’s shared photo voltaic program that embrace a $55 participation payment, one of many highest within the nation. As a substitute of serving to Virginians lower your expenses by permitting them to subscribe to shared photo voltaic, Richmond bureaucrats are placing these financial savings out of attain — and permitting utilities to keep up their management over our utilities. power choices.
However, sufficient is sufficient.
A current ballot performed by a revered pollster in Virginia discovered that 61% of voters are much less prone to vote to re-elect their legislator in the event that they assist the present limitations to shared possession. entry to photo voltaic and storage within the Commonwealth.
On the similar time, a brand new financial examine launched by the Coalition for Group Photo voltaic Entry exhibits that lowering limitations that forestall customers from collaborating in shared photo voltaic applications would create 12,000 new jobs. jobs and generate practically $5.6 billion in financial exercise. New photo voltaic developments may 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 power 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 residence and afford the prices of putting in a roof that harvests photo voltaic power financial savings. Nonetheless, for individuals who lease or can’t afford the upfront price of installations, financial savings are usually not an choice.
Creating extra photo voltaic initiatives will increase Virginia’s shared photo voltaic program, successfully reaching extra communities throughout the Commonwealth. Households collaborating in shared photo voltaic applications can save a mean of 10 % or extra on their electrical energy payments at a time when many are looking for monetary aid from inflation.
Transferring towards cleaner power sources will improve Virginia’s power independence and make us much less depending on unstable fossil fuels – one thing we must always assist. 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 gas combine from fossil fuels to wash, renewable sources to cut back the affect of sea degree rise and the its affect on my neighborhood.
Virginia lawmakers must be serving to their constituents lower your expenses – not lining the pockets of utility firms and their shareholders. Now could be the time for lawmakers to get out of the way in which and let Virginians profit from shared photo voltaic.
