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VAEEC: PACE Financing in Virginia [Video]

January 26, 2018

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2018 Virginia Energy Plan

October 4, 2018

 

This week the Virginia Department of Mines, Minerals and Energy (DMME) released the Commonwealth's 2018 Energy Plan. The report analyzes existing energy infrastructure, and outlines recommendations for grid modernization, building out capacity of renewable energy generation and storage, and reducing the state's carbon emissions. 

 

Distributed energy resources are likely to make up an increasing share of the energy system in near future. The plan outlines how the regulatory and policy landscape can adapt to emerging priorities and market dynamics as the state shifts toward a more distributed and modernized grid. Cost recovery structures are one key piece of this strategic vision. 

 

Virginia enacted PACE-enabling legislation in early 2018. To date, Arlington County is the only Virginia municipality that has implemented a local PACE financing program, but this number is expected to grow as additional local governments are developing similar initiatives. A recommendation made by DMME is to expand the state support of C-PACE through increased outreach and technical assistance.

 

DMME leads the Mid Atlantic PACE alliance, which supports information sharing, regional coordination and consistency among diverse PACE programs. Residential and Commercial PACE improves feasibility and accessibility of renewable energy  and energy efficiency measures, contributing to a more resilient, reliable and modernized energy grid. 

 

The full report is available here: https://www.governor.virginia.gov/media/governorvirginiagov/secretary-of-commerce-and-trade/2018-Virginia-Energy-Plan.pdf

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