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Dominion Va. proposing solar-power incentive

Thursday - 5/17/2012, 3:31pm  ET

RICHMOND, Va. - Dominion Virginia Power is proposing an incentive to encourage customers to install solar panels and sell the electricity to company.

The proposal was outlined Thursday in a filing with the State Corporation Commission. Dominion is seeking regulators' approval to buy solar-generated power from residential and small commercial customers at 15 cents per kilowatt-hour for a five-year demonstration period.

The demonstration project would be limited to a total of 3 megawatts, or 3,000 kilowatts. The typical residential solar installation in the company's Virginia service area is 4 kilowatt hours.

The proposed rate is designed to pay a premium to customers who generate electricity with solar power to defray installation costs.

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