Dominion Energy Virginia plans to meet rising power demand through significant investments in new power generation from every source, expansion and modernization of the power grid, energy storage, and energy efficiency programs, according to its newly filed 2024 Integrated Resource Plan (IRP).
“We are experiencing the largest growth in power demand since the years following World War II,” said Ed Baine, president of Dominion Energy Virginia. “Our comprehensive plan ensures we can always deliver reliable, affordable, and increasingly clean energy — day or night, rain or shine, winter or summer.”
Filed Tuesday with regulators at the Virginia State Corporation Commission (SCC) and the North Carolina Utilities Commission, Dominion’s IRP outlines its long-term plans based on a snapshot in time of current technology, market information, and load projections.
The IRP includes the company’s commitment to reliable, affordable, and clean electricity, according to Baine, with nearly 80 percent of the plan’s incremental power generation over the next 15 years being carbon-free.
This includes approximately 3,400 megawatts (MW) of new offshore wind in addition to the 2,600-MW Coastal Virginia Offshore Wind project currently under development off the coast of Virginia Beach; about 12,000 MW of new solar; and roughly 4,500 MW of new battery storage, the company says.
About 20 percent of the plan’s incremental power generation will come from natural gas, which is an important source of reliable backup power, according to the IRP, which is based on a forecast developed by PJM Interconnection that estimates power demand within the company’s delivery zone will grow 5.5 percent annually for the next decade and double by 2039.
“No single energy source, grid solution, or energy efficiency program will reliably serve the growing needs of our customers,” Baine said. “We need an all-of-the-above approach, and we are developing innovative solutions to ensure we deliver for our customers.”
In a separate filing with the SCC Tuesday, Dominion Energy proposed more than 1,000 MW of new solar projects in Virginia.
If approved, the company’s solar fleet in operation or under development — which is currently the second largest among utilities in the U.S. — will surpass 5,750 MW in Virginia, enough to power more than 1.4 million homes at peak output.
Dominion is also investing in the expansion of the transmission grid and during the first half of the year already completed 123 new transmission projects, including nearly 90 miles of new and rebuilt transmission lines and 13 new substations.
In September, Dominion jointly proposed several new large transmission projects with FirstEnergy Corp. and American Electric Power Co. Inc. to strengthen electric reliability across the 13-state PJM region over the next decade.
These projects will also support further integration of the significant renewables included in the IRP, Dominion said.
At the same time, Dominion is also making investments in the distribution grid to reduce storm-related outages and shorten power restoration times. Since 2019, it said it has hardened over 265 miles of main distribution lines by replacing older poles to reduce storm damage, and has plans to harden 1,000 miles of main lines by 2030.
“I am proud of the affordability we deliver, with residential rates 14 percent below the national average, and as shown in the plan, we intend to continue that focus,” Baine said.
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