Renewable Portfolio Standard
In April 2020, Virginia's legislature passed H.B. 1526, which requires, among other things, the development of renewable portfolio standards for electric utilities and suppliers.
Requirements:
Virginia's Renewable Portfolio Standard (RPS) requires Phase II Utilities to generate 100% of their power from renewable sources by 2045. The RPS requires Phase I Utilities to generate 100% of their power from renewable sources by 2050. A complete list of requirements by year is given below:
- 2021 - 6% for Phase I Utilities, 14% for Phase II Utilities
- 2022 - 7% for Phase I Utilities, 17% for Phase II Utilities
- 2023 - 8%
- Read more about Renewable Portfolio Standard
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