Electric utilities; construction of renewable energy facilities.

Added specific megawatt capacity targets for Phase I and Phase II utilities to procure solar and wind generation by 2023, 2027, and 2030, with requirements that 35% of capacity come from non-utility owners.

Added new energy storage requirements requiring Phase I utilities to acquire 400 megawatts and Phase II utilities to acquire 2,700 megawatts by December 31, 2035.

Added requirements for utilities to conduct annual requests for proposals for new solar and wind resources and to submit annual plans for renewable generation and energy storage development.

Added a requirement that utilities procure equipment from Virginia or US-based manufacturers for renewable energy projects when reasonably available and competitively priced.

Added a requirement that 35% of energy storage facilities placed into service after July 1, 2020, be purchased from or owned by parties other than the public utility.

Modified the RPS compliance schedule for Phase I and Phase II utilities, with Phase I utilities starting at 6% in 2021 and Phase II utilities starting at 14% in 2021, both increasing annually through 2045.

Added exemptions for 'accelerated renewable energy buyers' (large commercial/industrial customers over 25 megawatts) from certain non-bypassable RPS compliance costs.

Modified the definition of 'Previously developed project site' to include specific categories like brownfields, parking lots, and mining sites to encourage development on already-disturbed land.

Modified deficiency payment amounts for RPS non-compliance, setting payments at $45 per megawatt-hour for general shortfalls and $75 per megawatt-hour for solar, wind, and anaerobic digester shortfalls.