SB 340

Small renewable energy projects; agrivoltaics definition; advisory panel. Defines under the provisions relating to small renewable energy projects the term 'agrivoltaics' to mean the intentional co-location of agricultural production and solar energy generation on the same land that (i) is designed to prioritize and sustain agricultural productivity while integrating renewable energy; (ii) allows the ongoing production and sale of agricultural products throughout the solar array's life; (iii) is a part of an existing farm business; and (iv) ensures flexibility for farmers to adapt to market conditions and support operational needs. The bill also directs the Virginia Cooperative Extension, in consultation with the Department of Energy, to convene a stakeholder advisory panel to develop recommendations to (i) establish criteria to determine qualifying agrivoltaic projects that are eligible for grant funding through the Virginia Power Innovation Fund and Program, (ii) identify how to monitor and sustain the integrity of agrivoltaic projects, and (iii) consider permitting or provide other incentives that may be effective in promoting agrivoltaic projects in the Commonwealth. The bill directs the stakeholder advisory panel to submit a report on its recommendations to the Secretaries of Agriculture and Forestry and Natural and Historic Resources by November 1, 2026.