THE VIRGINIA CLEAN ECONOMY ACT will create the Commonwealth’s first Clean Energy Standard, putting Governor Ralph Northam’s pledge to transition our electric grid to 100% clean energy by 2050 into Virginia law.
This plan will eliminate carbon emissions and invest in clean energy technologies, which will create thousands of jobs and make our power cheaper. Further, it will give all Virginians a personal stake in the advanced energy economy by reducing barriers to energy efficiency programs in every corner of the Commonwealth—including low-income communities.
Put simply, the VCEA is the most ambitious clean energy policy in Virginia’s long history. Here’s why.
THE VCEA WILL SPUR ECONOMIC GROWTH.
- Creates up to 13,000 jobs per year in Virginia’s advanced energy industry
- Produces $69.7 billion in net benefits for Virginians
- Invests strategically in Virginia’s energy efficiency, rooftop solar and offshore wind industries
THE VCEA WILL PROTECT CONSUMERS.
- Generates up to $3,500 in savings for an average Virginia household over 30 years
- Develops an Energy Efficiency Resource Standard to help households and businesses reduce energy waste and save money
- Provides additional energy efficiency help for marginalized communities, including low-income weatherization, and assistance for veterans and the disabled
- Prevents spikes in electric bills by capping how much ratepayers can be charged
- Closes loopholes to keep energy monopolies from burning fossil fuels to sell electricity out of state
THE VCEA WILL PROVIDE CLEANER AIR AND FIGHT CLIMATE CHANGE.
- Eliminates all harmful carbon emissions from Virginia utilities by 2050
- Wipes out pollution from power plants that harms public health
- Bolsters Virginia’s coastal communities by investing in programs to combat erosion and destruction on our shores
- Expands consumer ownership through rooftop and shared solar
- Helps to protect our natural resources for future generations