VA HB1062

Requires Phase I and Phase II electric utilities to establish pilot programs for energy conservation, solar generation, and energy storage targeting low-income, elderly, and disabled individuals by December 31, 2026

Phase II Utilities must fund the program at $23 million in the first year, while Phase I Utilities must provide $5 million, with annual increases tied to Consumer Price Index or the utility's 15-year compound annual growth rate

Utilities must provide incentives directly to customers, with priority given to low-income, moderate-income, elderly, and disabled persons in public housing controlled by redevelopment and housing authorities

State Corporation Commission must convene a technical conference by November 1, 2026 to evaluate creating a "Pay As You Save" style program and may require utilities to petition for implementation by May 1, 2027

Pilot program provisions expire on July 1, 2034, with program costs recoverable through existing utility rate structures