Dominion Energy has laid out plans to develop around 3400MW of new offshore wind in the next 15 years, in addition to the 2600MW Coastal Virginia Offshore Wind (CVOW) project currently under development off the coast of Virginia Beach.
CVOW is the largest offshore wind project under development in the US and remains on-time and on-budget, Dominion said in its 2024 Integrated Resource Plan (IRP).
The US utility is also planning 12,000MW of new solar, a more than 150% increase to the 4750MW of solar the company currently has in operation or under development.
In the 15-year projection, Dominion also plans to develop 4500MW of new battery storage.
The IRP is not a request to build any specific project, but rather a long-term planning document based on a snapshot in time of current technology, market information and load projections.
About 20% of the plan’s incremental power generation will come from natural gas, which is a critically important source of reliable backup power to ensure the lights stay on when the company’s growing wind and solar fleet are not producing electricity.
The IRP is based on a forecast developed by PJM, which projects that power demand will continue growing at unprecedented levels in the coming decades.
Power demand within the company’s delivery zone is forecasted to grow 5.5% annually for the next decade and to double by 2039.
Ed Baine, president of Dominion Energy Virginia, said: “We are experiencing the largest growth in power demand since the years following World War II.
“No single energy source, grid solution or energy efficiency program will reliably serve the growing needs of our customers.
“We need an ‘all-of-the-above’ approach, and we are developing innovative solutions to ensure we deliver for our customers.
“I am proud of the affordability we deliver, with residential rates 14% below the national average, and as shown in the plan we intend to continue that focus.
“Our comprehensive plan ensures we can always deliver reliable, affordable and increasingly clean energy – day or night, rain or shine, winter or summer.”