SB 557

This bill expands Virginia's renewable energy portfolio standard to include two new eligible energy sources that can count toward utilities' renewable energy requirements. Specifically, it adds hydrogen resources produced from zero-carbon generating facilities located in Virginia and new nuclear generating facilities located in Virginia that begin service after July 1, 2024, to the list of eligible sources under the state's renewable portfolio standard. The legislation effectively broadens the definition of what qualifies as "renewable" energy in Virginia to encompass these zero-carbon but traditionally non-renewable sources, potentially making it easier for utilities to meet their renewable energy targets while supporting the development of hydrogen and new nuclear generation within the Commonwealth.