Dominion Power Expands Its Solar Program
Green Chip Stocks
Dominion Virginia Power, the state’s largest electricity company, has just proposed paying a premium price as a way to encourage customers to install solar energy and sell the electricity back to the company.
The company recently asked the State Corporation Commission to allow the purchase of solar-generated electricity from residential and small commercial customers at 15 cents per kWh under a five-year demonstration period. Currently, the average rate residential customers pay is 11 cents per kWh.
Under this program, the customer will buy his power from Dominion and sell all his solar-generated power back to the company.
While the demonstration project would be limited to 3,000 kW, the typical residential solar installation in the company’s Virginia service area is 4 kW, with the average commercial customer having a 22 kW system.
So far, 14,000 Virginians have been buying renewable energy certificates to support the development of clean sources of power through Dominion’s Green Power plan. The subscribers’ contributions will pay for the solar energy program.
According to Dominion’s manager of customer solutions Dianne Corsello, “Nothing in the Green Power program is going to change…we’re just going to use the funds for Virginia solar.”
Dominion Power Expands Its Solar Program originally appeared in Green Chip Stocks. Green Chip Review is a free 2x-per-week newsletter, is the first advisory to focus exclusively on investments in alternative and renewable energies.
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