Description
Title: Solar Power Purchase Agreement Presentation
Summary
The City of Richmond is advancing the RVA Solar 2050 initiative through a Solar Power Purchase Agreement (PPA) with Secure Solar Futures, aiming to install solar panels on 27 municipal buildings at no upfront cost. This agreement allows the city to purchase electricity generated from the solar installations at rates lower than those from Dominion Energy, with an expected savings of over $12 million over 25 years. The project is critical for reducing the city’s carbon footprint and achieving its RVAgreen 2050 climate goals, particularly as federal solar tax credits are set to expire soon. The initiative not only promotes clean energy but also fosters economic development and job training in solar installation, benefiting all council districts.