Virginia passes law to allow third-party solar financing

May 3, 2024
Facebook
Twitter
LinkedIn
Reddit
Email
Over 50,000 homes have installed solar systems in Virginia. Image: Sunnova.

The Virginia General Assembly has passed a bill to allow rooftop solar leasing with a third party in the state, and prohibit customers from being required to provide proof of liability insurance as a prerequisite for interconnection.

The law, which will come into effect on 1 July 2024, also states that customers that generate their own electricity and use battery energy storage systems (BESS) alongside their generator won’t have to pay standby charges.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

“As our energy demand increases, we’ll need to think of novel ways to generate supply, and programs like solar leasing and net metering help incentivise deployment where it’s needed most,” said Suhas Subramanyam, a member of the Virginia Senate.

According to the Solar Energy Industries Association (SEIA), more than 50,000 Virginia homes have solar systems installed, and the market is expected to grow by nearly ten times in the next decade. In 2020, the Virginia General Assembly passed the Virginia Clean Economy Act (VCEA), which mandated a goal of 100% zero carbon energy generation by 2050.

“As thousands of Virginia families consider their energy choices and install solar over the next decade, the solar and storage industry is taking steps to ensure every installation is safe, reliable, and meets customer expectations. SEIA will continue to advocate for policies that open the market for solar, put customers first, and strengthen Virginia’s energy economy,” said Caitlin Vincent, Southeast senior manager for the SEIA.

As of the end of 2023, Virginia boasted 4.84GW of installed solar capacity while it added 591.6MW in 2023, according to the SEIA, and solar met 6.56% of power demand in the state last year. Regarding solar installations, utility scale projects have accounted for the majority of additions since 2020, while residential solar installations have gained traction since 2020 as well. 

Read Next

Premium
December 15, 2025
Imperial Star's DomesticIQ calculator aims to bring some clarity to the complexities of navigating US solar domestic content requirements.
December 15, 2025
Spanish renewables developer Acciona Energia has sold a 49% minority stake in a 1.3GW US solar PV project portfolio.
December 15, 2025
Soltec has begun the process of transferring 80% of its share ownership to European investment firm DVC Solutions.
December 12, 2025
A roundup of three solar PV project financing stories from Australia, Texas and California, with updates from Potentia Energy, Origis Energy and Baywa r.e.  
December 12, 2025
Solar PV companies in the US are not waiting for guidance from the US Departments of the Treasury or Energy to act regarding Foreign Entity of Concern (FEOC), according to a survey conducted by Crux.
December 12, 2025
US solar PV module prices have stabilised at just over US$0.28/W in the three months to November 2025, according to Anza.

Upcoming Events

Upcoming Webinars
December 17, 2025
2pm GMT / 3pm CET
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 24, 2026
Dallas, Texas
Solar Media Events
April 15, 2026
Milan, Italy
Solar Media Events
June 16, 2026
Napa, USA