Bill > HB2780

This bill modifies Virginia's Electric Utility Regulation Act, focusing on renewable energy requirements and zero-carbon electricity generation. It establishes a comprehensive plan for Phase I and Phase II electric utilities to transition to renewable energy sources, with mandated targets for solar, wind, and energy storage capacity. The bill requires utilities to retire fossil fuel-generating units by specific dates, with coal-fired and oil-fired units to be retired by December 31, 2024, and other carbon-emitting units to be retired by December 31, 2045. Utilities must participate in a Renewable Energy Portfolio Standard (RPS) Program, gradually increasing the percentage of renewable energy in their portfolio from 6-14% in 2021 to 80-100% by 2045-2050. The legislation introduces new definitions like "carbon dioxide equivalent" and "emissions-positive generating unit" and mandates that utilities petition the Commission for approvals to procure zero-carbon electricity and energy storage resources. The bill also includes provisions for accelerated renewable energy buyers, allowing large commercial and industrial customers to contract for renewable energy credits while potentially receiving exemptions from certain non-bypassable charges. Additionally, the legislation emphasizes economic development, job training, and the use of Virginia-based manufacturers in the renewable energy transition.

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https://lis.virginia.gov/bill-details/20251/HB2780