What is Renewable Energy?

Dominion Energy’s mission is to provide the reliable, affordable, and increasingly clean energy that powers our customers every day. In keeping with our commitment to increasingly clean energy, we are planning and building a diversified portfolio of power generation resources that use renewable forms of energy.

The federal Energy Information Administration generally defines, renewable energy. as that which comes from naturally replenishing sources. For example, Dominion Energy uses solar, wind, and hydroelectric resources to supply our customers with renewable energy. Biomass facilities are also considered renewable because the supplies of wood and wood waste they use to generate electricity can be replenished.

Leveraging Clean, Renewable Resources

Alongside maintaining reliable and affordable service, the development of renewable energy resources is a priority for Dominion Energy. We currently own or contract with renewable projects totaling more than 2,500 megawatts of capacity across five different states. When operating at peak output, those resources can produce enough clean energy to power to more than 625,000 typical households.

Dominion Energy has thousands of megawatts in additional renewable projects under construction or at earlier stages of development. Our Coastal Virginia Offshore Wind project, for instance, is proceeding on-time and on-budget toward completion in 2026.

Impact on Our Customers

Renewable energy projects bring multiple benefits to our customers. For example, in contrast to more traditional power generation facilities, they produce low or no harmful emissions. Many renewable resource types also incur no fuel costs - in other words, there is no need to purchase commodities like coal or natural gas for them to use during power production. This reduces Dominion Energy customers’ exposure to price spikes in the market for those fuel commodities, promoting stability in electric rates

Note: The GIS map will blur at certain zoom levels to protect critical generation infrastructure.

Renewable Energy Standards

Renewable projects are a cornerstone of Dominion Energy’s strategy for complying with portfolio standards where we operate. Virginia and North Carolina have passed laws that require us to source increasing proportions of electricity sales from renewable resources.

To demonstrate compliance, Dominion Energy must procure and retire renewable energy certificates (RECs) from eligible resources. RECs are tradeable instruments which certify that a particular amount of electricity was generated from a renewable resource. They can be registered for sale and monetized separately from the electricity itself, providing an additional value stream to owners of renewable resources.

Buyers of RECs include entities with statutory compliance obligations (such as Dominion Energy) or those with voluntary sustainability commitments. When the holder of a REC “retires” the instrument, it can no longer be resold. This allows the entity who retired the REC to claim credit, from a compliance standpoint, for the renewable energy it represented.

By leveraging our existing renewable resources, supporting development of new renewable projects, and purchasing RECs from third-party owned facilities, Dominion Energy is positioning itself for long-term compliance with these state laws.