Today: 3 February 2026
Subscribe
Dominion Energy Bets Big on Solar & Storage in 2025 – Even as Critics Cry “Scam”
9 October 2025
··
6 mins read

Dominion Energy Bets Big on Solar & Storage in 2025 – Even as Critics Cry “Scam”

by
  • Utility doubles down on renewables: Dominion Energy has launched a new request for proposals (RFP) seeking solar, wind, and battery projects in Virginia and North Carolina. Its subsidiaries are exclusively looking for power purchase agreements (PPAs) with new photovoltaic solar, onshore wind, and energy storage installations Renewableenergyworld. This move comes as the bulk of new U.S. power capacity in 2025 (about 90%) is from renewables Renewableenergyworld, underscoring a broader clean energy boom.
  • Five project categories targeted: The RFP invites bids for five types of projects: large utility-scale solar farms (>3 MW); smaller distributed solar (<3 MW); solar paired with storage; onshore wind (with or without storage); and stand-alone battery storage Renewableenergyworld. Dominion will consider facilities anywhere in VA or NC, but distributed projects under 3 MW must be within Dominion’s service territory to provide local grid benefits Renewableenergyworld. The utility even encourages proposals on brownfield sites like old landfills or industrial plots Renewableenergyworld – turning yesterday’s liabilities into tomorrow’s clean power assets.
  • Timeline and requirements: Interested developers must register intent to bid by Jan. 20, 2026 and sign a confidentiality agreement Renewableenergyworld. Final proposals are due by Feb. 9, 2026 Renewableenergyworld. By openly courting third-party projects through PPAs (rather than building all projects itself), Dominion aims to tap market innovation and speed. The PPAs will support customers’ future energy needs as outlined in Dominion’s latest Integrated Resource Plan Renewableenergyworld, while also creating local jobs, community investment, and new tax revenue in host localities Solarbuildermag.
  • Driving forces – policy and economics: Dominion’s big solar-and-storage push aligns with Virginia’s Clean Economy Act (VCEA) mandates and the utility’s pledge of net-zero carbon emissions by 2050 Renewableenergyworld. State law deems 16,100 MW of new solar and onshore wind and 2,700 MW of storage to be in the public interest by 2035, pressuring Dominion to rapidly expand clean generation. At the same time, renewables make economic sense: they are now the fastest-to-build and often cheapest option for new power Renewableenergyworld. Even without federal subsidies, solar, wind, and batteries are favored to meet surging electricity demand (driven heavily by energy-hungry data centers)
-rhetoric-utilities-still-want-renewables/?utm_source=ts2.tech#:~:text=Image%20%2086" target="_blank" rel="noreferrer noopener">Renewableenergyworld. Simply put, why wait on a new gas plant when a solar+storage farm can come online in half the time?
  • Utilities defy “green scam” rhetoric: Notably, this renewable RFP lands amid a political backdrop where the federal government has cast solar and wind as a “green scam.” The current administration in Washington has criticized clean energy as “unreliable” and “expensive”, seeking to roll back support Renewableenergyworld. Dominion’s actions tell a different story. The utility is forging ahead with carbon-free energy because it works – it’s cost-effective and essential to meet customer needs. As energy reporter Paul Gerke wryly noted, “when the rubber meets the road, electric utilities are still turning to carbon-free sources” Renewableenergyworld. In fact, over half the U.S. population now lives in states with clean energy laws driving renewables growth Renewableenergyworld. Dominion’s home state is one of them, and the company is obligated to deliver.
  • Not alone in the green drive: Dominion is far from the only utility ramping up renewables in 2025. Georgia Power recently got approval for five new solar PPAs totaling over 1,000 MW – projects selected via its 2023 RFP as part of Georgia’s long-term plan Renewableenergyworld. Even in oil-and-gas country, Xcel Energy’s Texas/New Mexico subsidiary opted for over 5 GW of solar and wind in its latest portfolio to meet “rapidly rising” demand Renewableenergyworld. The trend is clear: across the nation, utility capital spending is pouring into clean energy. The U.S. Energy Information Administration forecasts record electricity usage in 2025–26, with renewables’ share of generation rising from ~23% to 25% ts2.tech. Utilities plan to invest over $1 trillion by 2029 to upgrade grids and build carbon-free capacity ts2.tech. Dominion’s big RFP is one puzzle piece in this massive energy transition.
  • Stock on the rise: Investors have started to take note of Dominion Energy’s transition efforts and improving outlook. The company’s stock (NYSE: D) has climbed about 6% over the past month, handily beating the utility sector’s ~2.5% gain and even topping the S&P 500’s ~4% rise Nasdaq. Shares recently closed around $60.87, down ~1% in a choppy market session Nasdaq. (By comparison, the S&P 500 slipped 0.38% the same day Nasdaq.) This uptick suggests growing confidence after a prolonged slump. Dominion spent much of 2023–2024 under pressure – conducting a top-to-bottom business review and shoring up its balance sheet – but now appears to be turning a corner.
  • Analysts bullish on earnings: Wall Street is cautiously optimistic. Dominion is scheduled to report Q3 2025 earnings on October 31 Nasdaq, and analysts expect solid growth despite higher interest rates and other headwinds. Consensus forecasts earnings of about $1.02 per share for the quarter (up ~4% year-over-year) on $4 billion in revenue Nasdaq. For the full year 2025, Dominion is projected to earn roughly $3.39 per share with $15.2 billion revenue, which would mark a healthy +22% jump in profit and +5% revenue growth from last year Nasdaq. These estimates have held steady in recent weeks, and no major analyst downgrades have surfaced – a good sign for the company’s near-term outlook Nasdaq.
  • Valuation and forecast: Importantly for investors, Dominion’s stock trades at a discount relative to peers. Its forward price-to-earnings ratio is about 18.1, slightly below the electric utility industry average (~19.1) Nasdaq. The stock’s PEG ratio (price/earnings-to-growth) sits around 1.33, well under the sector’s 2.8 average Nasdaq – indicating the market may be underestimating Dominion’s growth prospects. Investment research firm Zacks currently rates Dominion a “Buy” (Rank #2), noting that positive earnings estimate revisions often precede stock price climbs Nasdaq. In Zacks’ view, Dominion’s pivot to regulated renewable assets and the stable cash flows that come with long-term PPAs could make it a dependable growth story in the utility space. Some analysts peg the stock’s 12-month price target in the mid-$60s, implying modest upside. While not a shoot-the-lights-out tech stock, Dominion offers a blend of steady dividends and exposure to the clean energy boom, a profile that is regaining favor as the company executes on its plan.
  • Forward-looking challenges: To be sure, Dominion Energy faces hurdles on its road to a greener grid. Interconnecting all these new solar farms and batteries will test the grid’s capacity, and navigating regulatory approvals (especially for any future rate increases to pay for projects) requires political finesse. Virginia’s regulators have at times pushed back – for instance, scrutinizing Dominion’s long-term resource plans to ensure reliability amid coal plant retirements. Additionally, the shifting political winds pose some uncertainty: state leaders supportive of the VCEA could change in future elections, potentially altering mandates. However, Dominion’s multi-pronged strategy may insulate it somewhat. The utility isn’t just banking on solar panels and lithium batteries; it’s also investing in offshore wind (developing a 2.6 GW wind farm off Virginia Beach) and even eyeing next-generation nuclear. In a futuristic twist, Dominion is partnering with tech companies on nuclear fusion research – collaborating on a planned pilot fusion power plant in Virginia that could one day supply Google’s data centers ts2.tech. While fusion power remains speculative, the message is clear: Dominion wants all tools on the table to meet demand and decarbonization goals.
  • The bottom line: Dominion Energy’s latest RFP underscores that, rhetoric aside, the energy transition is marching forward in the American South. A major utility in coal-and-gas country is committing to buy thousands of megawatts of solar, wind, and battery power – not due to charity or coercion, but because it’s practical. Clean energy is now often the lowest-cost, fastest-deployed option to serve customers Renewableenergyworld, especially as electricity consumption soars in the digital age. Dominion’s embrace of renewables (and the investor support following it) highlights a broader reality: market forces and state policies are driving a utility transformation. As one industry expert put it, “Love ’em or hate ’em, renewables comprise the bulk of new power generation coming onto the grid” Renewableenergyworld. Even a presidential push to revive fossil fuels has not stopped this momentum at the utility level. For communities in Virginia and North Carolina, Dominion’s clean energy push promises economic benefits and a cleaner environment. For Dominion’s shareholders, it could translate to a more robust, future-proof business – one that turns the so-called “green scam” into greenbacks.

    • Sources

    1. Kelsey Misbrener, “Dominion Energy seeks new solar and storage projects in Virginia and North Carolina,” Solar Power World – Oct. 8, 2025 Solarbuildermag Solarbuildermag.
    2. Brad Kramer, “Dominion Energy seeking RFPs for renewable PPAs,” Solar Builder Magazine – Oct. 8, 2025 Solarbuildermag Solarbuildermag.
    3. Paul Gerke, “Despite federal ‘green scam’ rhetoric, utilities still want renewables,” RenewableEnergyWorld – Oct. 8, 2025 Renewableenergyworld Renewableenergyworld.
    4. Dominion Energy 2024 Renewable RFP announcement (VA) Renewableenergyworld Renewableenergyworld; Virginia Clean Economy Act summary Renewableenergyworld.
    5. Zacks Equity Research, “Dominion Energy (D) Registers a Bigger Fall Than the Market: Important Facts to Note,” Nasdaq/Zacks via Yahoo Finance – Oct. 7, 2025 Nasdaq Nasdaq.
    6. Marcin Frąckiewicz, “AES Corp Stock Skyrockets as BlackRock Nears $38B Takeover – What Investors Need to Know,” Tech Space 2.0 (ts2.tech) – Oct. 1, 2025 ts2.tech ts2.tech.
    7. Marcin Frąckiewicz, “US Utility’s Fusion Moonshot: Betting Billions on ‘Star Power’ to Fuel the AI Era,” Tech Space 2.0 (ts2.tech) – Sept. 20, 2025 ts2.tech.
    Mateusz Kaczmarek Latest posts

    A technology and finance expert writing for TS2.tech. He analyzes developments in satellites, telecommunications, and artificial intelligence, with a focus on their impact on global markets. Author of industry reports and market commentary, often cited in tech and business media. Passionate about innovation and the digital economy.

    1. Supreme Court Fed showdown, Davos and China GDP: what to watch in global markets next week
    2. Bunzl plc (BNZL) Shares Slide After Pre‑Close Statement: 2025 Profit Guidance Reaffirmed, 2026 Margin Seen Slightly Lower
    3. IAG in focus: Bernstein ranks International Consolidated Airlines Group as top European airline pick for 2026
    4. Bellway (BWY) News Today: Share Buyback Update, Build-Quality Award Win, and What’s Moving the UK Housebuilder on 17 December 2025

    Stock Market Today

    • Ivanhoe Mines Stock Rises Above 50-Day Moving Average Amid Mixed Analyst Ratings
      February 3, 2026, 5:13 AM EST. Ivanhoe Mines Ltd. (TSE:IVN) shares rose above their 50-day moving average of C$15.57, closing at C$17.14 on heavy volume Monday. The company has a market cap of C$24.33 billion and a high P/E ratio of 77.91, reflecting growth expectations. Analyst sentiment is varied; Jefferies downgraded to "hold" with a C$16 target, while Scotiabank upgraded to "outperform" aiming at C$20. Recent insider sales include significant share disposals by Mark Sean Farren and director Peter Meredith, reducing their holdings by 25.54% and 1.57%, respectively. Despite insider selling, the consensus remains a "Moderate Buy" with a consensus price target near C$17.55. Ivanhoe reported C$0.02 earnings per share on C$180.18 million revenue for Q3. The stock's recent move may signal renewed investor interest amid mixed projections.
    Government Shutdown Shocker: TSA PreCheck & Global Entry Roll On as Flights Face Delays
    Previous Story

    Government Shutdown Shocker: TSA PreCheck & Global Entry Roll On as Flights Face Delays

    UiPath Stock Skyrockets on ‘Agentic AI’ Boom – AI Deals & Earnings Fuel Rally
    Next Story

    UiPath Stock Skyrockets on ‘Agentic AI’ Boom – AI Deals & Earnings Fuel Rally

    Go toTop