Dominion Energy’s NEM 2.0 Proposal: What It Means for Solar in Virginia

Virtue Solar, a leading solar installation company based in Charlottesville, VA, has released a new blog post discussing critical proposed changes to Virginia's net metering policy by Dominion Energy. As a company committed to building high-quality solar systems, Virtue Solar highlights the significant implications of these changes for homeowners looking to install solar, as well as commercial solar customers

The blog explains the fundamentals of net metering, which currently allows solar energy producers to receive full credit for excess energy contributed to the grid. However, Dominion's proposal aims to replace this with a new system dubbed "NEM 2.0," which would credit solar contributors at significantly lower rates. This change could diminish the return on investment for solar installations and stifle solar adoption in Virginia.

Dominion proposes half-hourly "real-time" netting instead of annual netting and a new "Export Credit Rate" tied to power purchase agreements, a move that would reduce compensation for solar energy by up to 55%. The proposal also includes claims to solar renewable energy credits (SRECs), which are currently the property of solar system owners, and additional fees that would impact new solar adopters.

Virtue Solar's article emphasizes the importance of public involvement and encourages residents to voice their opinions to the State Corporation Commission and contact their legislators. The post urges those considering solar to install now, locking in the current, more favorable net metering terms.

With Virginia's growing energy needs, Virtue Solar advocates for policies that support, rather than hinder, the adoption of clean energy solutions, ensuring sustainable growth and energy independence for the community.