Virginia Solar Panel Investments Under Threat by Net Metering Changes

State Commission Exploring Options on Energy Buyback

RICHMOND, VA, USA, June 13, 2024 /EINPresswire.com/ -- Virginia’s solar panel installation market is maturing, and that’s great news for the environment. But as in other states, it's also prompting a re-examination of net-metering terms and buyback rates.

Virginia’s State Corporation Commission (SCC) is planning changes to the net metering rules in Virginia – the mechanism for reimbursing solar panel owners for the energy their panels send back to the grid. Currently, Virginia solar panel owners are credited at a full retail rate of around 14-15 cents per kilowatt-hour.
However, the SCC’s solicitation of proposals from the two prominent Virginia utility companies, Appalachian Power Company (APCo) and Dominion Energy Virginia (Dominion), suggests future rates will likely change and not for the benefit of those choosing to go solar.

The SCC has stated that rate adjustments won’t affect current solar panel owners (SCC Case No. PUR-2024-00047). However, rate changes will impact those considering solar panel installations who don't complete the purchase/installation process prior to the effective date.

“If you install solar panels before the new rules take effect in Virginia, you’ll keep getting the full retail rate,” notes Virtue Solar founder Matt Powers about the SCC’s grandfathering clause. “For customers that install solar after the new rules take effect, they'll be subject to the new net-metering terms, which could impact their return on investment. We expect the new terms to favor the utilities over homeowners, as we've seen that happen in several other states.”

Powers also encourages consumers to become more informed and vocalize their disagreement with lowering net metering rates, as this will put more money back into utility companies’ coffers and reverse progress on solar usage and other green initiatives across the state. “We encourage Virginians to bring this to the attention of their representatives, so we can continue to push for affordable access to clean energy in Virginia.”

You can read more about the proposed net-metering changes here.

About Virtue Solar:
Virtue Solar is a Central Virginia-based, owner-operated solar installation company specializing in both residential solar and commercial solar projects. Virtue is an AES Certified, Class A Contractor that has installed over 3,500 kW of solar systems and maintains an A+ rating with the Better Business Bureau. Their industry-leading 25-year service warranty assures customers that solar panel systems perform as intended for the life of the system.

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