Solar revenue sharing ordinance approved
Buckingham is the latest county to approve a revenue sharing ordinance for solar farms following increased interest in solar projects in rural Virginia.
New legislation now authorizes localities to adopt ordinances which assess a revenue share of up to $1,400 per Megawatt (MW) as measured in alternating current (AC) generation capacity of the solar energy project.
Through the ordinance, the $1,400 per MW rate will be increased by 10% on July 1, 2026 and every five years thereafter.
The ordinance will not apply to any solar photovoltaic project or storage energy system which was filed with and approved by the county prior to Jan. 1 of 2021.
During the Tuesday, Oct. 12, Board of Supervisors meeting, a motion was made by District 4 Supervisor and Board Vice Chair Thomas Jordan Miles III to approve of the ordinance. The motion was seconded by District 7 Supervisor Danny Allen and passed unanimously with the exception of District 2 Supervisor Donnie Bryan who was not present at the meeting and therefore did not vote.