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2023 SESSION
HB 2386 Virginia Power Innovation Fund and Program; created.
Introduced by: Israel D. O'Quinn | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Virginia Power Innovation Fund and Program; created. Creates the Virginia Power Innovation Fund with funding to be used solely for the purposes of research and development of innovative energy technologies, including nuclear, hydrogen, carbon capture and utilization, and energy storage. The bill also creates the Virginia Power Innovation Program to use moneys from the Fund to (i) establish a Virginia nuclear innovation hub and (ii) award competitive grants to support energy innovation. This bill is identical to SB 1464.
SUMMARY AS PASSED HOUSE:
Virginia Power Innovation Fund and Program; created. Creates the Virginia Power Innovation Fund with funding to be used solely for the purposes of research and development of innovative energy technologies, including nuclear, hydrogen, geothermal, pumped storage hydropower, battery storage and manufacturing, and carbon capture and utilization. The bill also creates the Virginia Power Innovation Program to use moneys from the Fund to (i) establish a Virginia nuclear innovation hub and (ii) award competitive grants to support energy innovation.
SUMMARY AS INTRODUCED:
Virginia Power Innovation Fund and Program; created. Creates the Virginia Power Innovation Fund with funding to be used solely for the purposes of research and development of innovative energy technologies, including nuclear, hydrogen, carbon capture and utilization, and energy storage. The bill also creates the Virginia Power Innovation Program to use moneys from the Fund to (i) establish a Virginia nuclear innovation hub and (ii) award competitive grants to support energy innovation.