Bill > HB1077

This bill directs the State Corporation Commission, referred to as the Commission, to investigate financial incentives connected to the renewable energy portfolio standard program, or RPS, which is a program designed to increase the use of renewable energy sources. The investigation aims to better align incentives for meeting RPS requirements with ways to share risks with customers, ultimately working towards reducing greenhouse gas emissions as part of the Commonwealth Clean Energy Policy. The Commission is tasked with considering and recommending improvements to regulatory incentive structures to support RPS goals, such as enhancing planning and resource acquisition, and ensuring fair earning opportunities for both initial investments and ongoing operational costs to encourage the most cost-effective or valuable solutions. The Commission must then issue its final decision and submit a report detailing its findings and recommendations to the Governor and the General Assembly by November 1, 2026.

Business and Industry

https://lis.virginia.gov/bill-details/20261/HB1077