May 18, 2012
Dominion Virginia Power is proposing an incentive to encourage customers to install solar panels and sell the electricity to company.
The proposal was outlined Thursday in a filing with the State Corporation Commission. Dominion is seeking regulators' approval to buy solar-generated power from residential and small commercial customers at 15 cents per kilowatt-hour for a five-year demonstration period.
The demonstration project would be limited to a total of 3 megawatts, or 3,000 kilowatts. The typical residential solar installation in the company's Virginia service area is 4 kilowatt hours.
The proposed rate is designed to pay a premium to customers who generate electricity with solar power to defray installation costs.