CHARLESTON, W.Va., May 21, 2024
/PRNewswire/ -- LandGate, the leading provider of data and
analytics for energy and commercial real estate markets, today
announced the publication of an in-depth study on the state of
solar development in West
Virginia. This comprehensive analysis provides a detailed
look at the incredible potential and current activity within the
region, offering valuable insights for developers, investors, and
policymakers.
Key Highlights of the Study:
The study evaluates the state of solar development in
West Virginia through the lens of
several critical factors: federal and local regulations, available
incentives, and grid interconnection and integration. Key findings
include:
- Incentives and Regulations: Breakdown of federal and
state incentives available to solar developers in West Virginia, including how to access
them.
- Grid Integration: Analysis of the state's
interconnection standards which simplify and reduce the cost of
connecting solar projects to the grid.
- Development Activity: West
Virginia has no currently operating utility-scale solar
farms, but it boasts one of the largest pipelines for future
developments.
West Virginia Solar Energy Development Activity
Despite its historical reliance on coal, West Virginia is now emerging as a significant
player in solar energy development. The state has one of the
largest pipelines for future utility-scale solar projects,
with:
- 70 MW capacity for planned projects
- ~6,240 MW capacity for 86 queued projects
- 455 MW capacity for 10 site control projects
If all these projects become operational, West Virginia's capacity will expand by
approximately 6,765 MW. On average, a solar farm in
West Virginia covers 245 acres and
produces 69.5 MW of electricity, requiring 3.5 acres per MW of
capacity.
Historically, solar development in West Virginia was not prioritized due to the
state's focus on coal production. This was exacerbated when the
state repealed its Renewable Portfolio Standard (RPS) in 2015.
However, recent federal and state policies have significantly
promoted solar development since 2018. Notable legislative
advancements include:
- Federal Investment Tax Credit (ITC): Extended to 30% for
solar system installation.
- Inflation Reduction Act (IRA): Implemented in 2022,
continuing support for solar development.
- Senate Bill 583: Enacted in 2020, allowing electric
companies to produce a portion of their electricity from solar
installations.
Quotes from Key Stakeholders
"Although West Virginia currently has no operating utility-scale
solar farms, the state has one of the largest pipelines for future
utility-scale solar development with 70 MW capacity for planned
projects, approximately 6,240 MW capacity for 86 queued
projects, and 455 MW capacity for 10 site control projects.
Overall, if all planned, queued, and site control farms go into
operating status, West Virginia
will expand its capacity by an estimated 6,765 MW," says Yoann
Hispa, CEO of LandGate.
Access to the Study
LandGate provides critical data to top developers and financiers
in the country. To learn more about accessing this platform or to
discuss how this data can apply to your business, book time
with a member of our dedicated energy markets team.
For further details and to access the full study, visit
LandGate's website or contact us directly at
energy@landgate.com.
About LandGate
LandGate is the leading provider of data solutions and
marketplace for land resources, including solar, wind, minerals,
and water. Our innovative platform empowers users to make informed
decisions backed by accurate data and analytics.
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SOURCE LandGate