The Virginia Clean Economy Act is delivering lower energy bills, new jobs, and a healthier environment. Here’s how far we’ve come—and where we go next.
ABOUT THE VCEA
What is the Virginia Clean Economy Act?
Passed in 2020, the Virginia Clean Economy Act (VCEA) put the Commonwealth on a path to 100% clean electricity. It jumpstarted investment in renewable energy, created jobs, and began transforming our energy grid to serve all Virginians.
The law sets binding targets for utilities to eliminate fossil fuels from their portfolios by 2045, expands access to energy efficiency programs, and lays the foundation for a modern energy economy that works for everyone.
Dominion Energy’s latest Renewable Portfolio Standard (RPS) plan projects saving $118.5 billion in fuel costs savings over the lifespan of VCEA clean economy project investments.
$2.8 to $7 billion in health cost savings over 20 years. By 2045, the VCEA will save 32 lives per year across the state, and avoid up to $355 million per year in health-related costs.
The project represents the largest capital investment in the history of Chesapeake City. Currently in development. The $680 million plant will service the offshore wind industry.
Volvo Trucks New River Valley Facility
The largest manufacturing employer in Southwestern Virginia, at 2.3 million square feet, the NRV facility is Volvo Truck’s largest factory in the world. Since 2021, the NRV facility has been producing electric vehicles, an integral part of the global automaker’s fleet electrification strategy.
Coastal Virginia Offshore Wind
CVOW will produce 2,600 megawatts of electricity, enough to power as many as 660,00 Virginia homes. Currently under construction. During construction, CVOW has created 900 direct and indirect jobs each year.