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SB 710 - Expands Renewable Energy Tax Credits - Virginia Key Vote

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Title: Expands Renewable Energy Tax Credits

Vote Smart's Synopsis:

Vote to adopt a conference report and pass a bill that expands renewable energy tax credits to residents, nonprofit organizations, and schools.

Highlights:

 

  • Authorizes the States Corporation Commission to establish and regulate a program by January 1, 2021, that affords eligible multi-family customers of investor-owned utilities the opportunity to participate in shared solar projects (Sec. 1).

  • Requires an investor-owned utility to provide a bill credit to a subscriber’s subsequent monthly electric bill for the proportional output of a shared solar facility attributable to that subscriber (Sec. 1).

  • Defines “bill credit” as the monetary value of electricity in kilowatt-hours, generated by the shared solar facility allowed to a subscriber to offset that subscriber’s electricity bill (Sec. 1).

  • Defines a “multi-family shared solar program” as the program created through the adoption of rules to allow for the development of shared solar facilities (Sec. 1).

  • Defines a “shared solar facility” as a facility that generates electricity by means of a solar photovoltaic device with a nameplate capacity that does exceed 3,000 KW alternating current at any single location or a facility that does not exceed 5,000 KW alternating currents at contiguous locations owned by the same entity (Sec. 1).

  • Defines a “subscriber” as a multi-family customer of an investor-owned electric utility that owns one or more subscriptions of a shared solar facility that is interconnected with the utility (Sec. 1).

See How Your Politicians Voted

Title: Expands Renewable Energy Tax Credits

Vote Smart's Synopsis:

Vote to adopt a conference report and pass a bill that expands renewable energy tax credits to residents, nonprofit organizations, and schools.

Highlights:

 

  • Authorizes the States Corporation Commission to establish and regulate a program by January 1, 2021, that affords eligible multi-family customers of investor-owned utilities the opportunity to participate in shared solar projects (Sec. 1).

  • Requires an investor-owned utility to provide a bill credit to a subscriber’s subsequent monthly electric bill for the proportional output of a shared solar facility attributable to that subscriber (Sec. 1).

  • Defines “bill credit” as the monetary value of electricity in kilowatt-hours, generated by the shared solar facility allowed to a subscriber to offset that subscriber’s electricity bill (Sec. 1).

  • Defines a “multi-family shared solar program” as the program created through the adoption of rules to allow for the development of shared solar facilities (Sec. 1).

  • Defines a “shared solar facility” as a facility that generates electricity by means of a solar photovoltaic device with a nameplate capacity that does exceed 3,000 KW alternating current at any single location or a facility that does not exceed 5,000 KW alternating currents at contiguous locations owned by the same entity (Sec. 1).

  • Defines a “subscriber” as a multi-family customer of an investor-owned electric utility that owns one or more subscriptions of a shared solar facility that is interconnected with the utility (Sec. 1).

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