Dive Summary:
- Dominion Resources Inc. announced a solar incentives program Wednesday to encourage homeowners and businesses to install solar generation systems and sell some of the power they generate back to the company.
- Customers of Dominion Virginia Power can apply to the Solar Purchase Program online. If accepted, customers will purchase, install and own the solar generation system located on their property, but sell the electricity and the associated solar Renewable Energy Certificates (RECs) back to Dominion at a premium rate of 15 cents per kilowatt-hour. This will offset the cost of adding solar power to their properties and increase solar generation in Virginia.
- The Solar Purchase Program is an alternative to Dominion's net metering program whereby customers offset their consumption with self-generated renewable energy from a variety of fuel sources.
From the press release:
... ” Currently, about 850 customers participate in the "net metering" program.” ...