Virginia Governor Signs Legislation Requiring Transition to Carbon-Free Power by 2050

     
Virginia Governor Signs Legislation Requiring Transition to Carbon-Free Power by 2050

Democratic Governor Ralph Northam on April 11 signed into law the Virginia Clean Economy Act, which sets the state on the path to carbon-free power by 2050. The law replaces the voluntary renewable energy portfolio program with a mandatory standard, and paves the way for an enormous expansion of wind and solar power, and energy storage and efficiency. The legislation establishes a carbon dioxide cap-and-trade program consistent with the Regional Greenhouse Gas Initiative, the ten-state compact that established the nation's first mandatory power sector emissions-trading program. The new renewable portfolio standard requires Dominion Energy to source 100 percent of its electricity from carbon-free sources by 2045 and Appalachian Power Company by 2050.

Monty Bannerman
Managing Director
Tel: +1 646-402-5076

Cell: +1 305-984-1177