RICHMOND, VA — The Virginia General Assembly has successfully passed House Bill 1062/Senate Bill 271, which authorizes third-party leasing for rooftop solar installations in Virginia, enhancing consumer energy options. This law will be effective from July 1, 2024.
Currently, over 50,000 homes in Virginia have installed solar panels, and the market is anticipated to expand nearly tenfold in the next decade as more customers seek to manage their energy consumption and reduce electricity expenses. By offering third-party leasing options, the initial financial barriers are lowered, making solar installations more accessible to a wider range of income levels.
Caitlin Vincent, Southeast senior manager for the Solar Energy Industries Association (SEIA), expressed gratitude for the bipartisan support from Governor Youngkin and the General Assembly in expanding energy choices for Virginians. “As more families in Virginia explore solar energy, the solar and storage industry is committed to providing safe, reliable installations that meet customer needs. SEIA will persist in advocating for policies that broaden the solar market, prioritize consumer interests, and enhance Virginia’s energy economy,” she stated.
“Rooftop solar is pivotal to Virginia’s clean energy strategy, as it reduces costs, meets energy targets, strengthens the grid, and preserves our landscape,” remarked Senator Suhas Subramanyam, a co-sponsor of the bill. “With growing energy demands, innovative approaches like solar leasing and net metering are essential for encouraging deployment where it is most needed. After two legislative sessions, I am pleased that we have passed this bill, which lays the groundwork for better integrating rooftop solar and battery storage into our grid.”
“I am proud of the bipartisan support we achieved for this bill, which brought together climate advocates, solar installers, and utilities to create the best possible legislation,” said Delegate Rodney T. Willett, a co-sponsor of the bill. “This bill will help Virginia advance its clean energy transition, attract more businesses, and make solar energy more affordable and accessible for all residents.”
Source: SEIA