The Solar Energy Industries Association (SEIA) recently announced that the West Virginia legislature has passed a bill to make it easier for West Virginians to benefit from solar energy. House Bill 3310 enables power purchase agreements (PPAs), which are a widely available method to finance distributed energy distribution projects such as rooftop solar panels. PPAs are now allowed in 29 states.
“Solar energy helps West Virginians save money and take control of where their electricity comes from,” said Autumn Long, Solar United Neighbors’ West Virginia program director, in the release. “West Virginia lawmakers made the smart decision to allow power purchase agreements so that more West Virginia families and businesses can benefit from solar energy.”
PPAs allow customers to benefit from distributed energy with minimal upfront costs. Customers see electric bill savings from day 1 and are able to lock-in long-term energy rates, thus allowing them to stabilize their monthly budget expenditures and protect themselves against utility rate increases. West virginia had the fastest growth rate in electricity prices in the nation between 2008 and 2017.
“We commend the West Virginia Legislature for passing HB 3310, which will help to expand the use of clean, reliable and affordable solar energy in West Virginia,” added Sean Gallagher, VP of state and regulatory affairs at SEIA, in the press release. “Across the country, schools, businesses and homeowners are using power purchase agreements to significantly reduce upfront solar costs and advance a cost-effective, competitive energy solution. West Virginians will now have the freedom to use an innovative financial tool to invest in this clean, low-cost form of energy.”