Virginia passes law to allow third-party solar financing

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

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

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. 

8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
26 November 2024
Málaga, Spain
Understanding PV module supply to the European market in 2025. PV ModuleTech Europe 2024 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
11 March 2025
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

May 24, 2024
Solar project developer Recurrent Energy has secured a €674 million (US$730 million) revolving credit facility to expand its European solar and battery energy storage system (BESS) portfolio.
May 24, 2024
Ørsted has closed a US$680 million tax equity financing with JP Morgan for a solar project, alongside a solar-plus-storage project.
May 24, 2024
US power distribution company Entergy Louisiana has received approval from the Louisiana Public Service Commission (LPSC) to add up to 3GW of solar PV.
May 24, 2024
Indian solar installations increased by over 400% in the first quarter of 2024 to the highest quarterly deployment levels in its history.
May 24, 2024
US independent power producer Pivot Energy and electric vehicle (EV) manufacturer Rivian have partnered to build 60MW of community solar in Illinois, US.
May 23, 2024
Spanish firm Acciona Energía has commissioned its 458WM Red-Tailed Hawk PV project in the US state of Texas.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
May 29, 2024
11am (EDT) / 5pm (CEST)
Solar Media Events
June 4, 2024
London, UK
Upcoming Webinars
June 11, 2024
3:00 PM (BST) / 4:00 PM (CEST)
Solar Media Events
July 2, 2024
Athens, Greece