VA SB254

Expands Virginia's shared solar program capacity from 150 megawatts to 525 megawatts in part two, with 450 megawatts designated to serve no more than 51% low-income customers and 75 megawatts for projects serving more than 51% low-income customers

Accelerates program expansion by requiring the Phase II Utility to release additional capacity by July 1, 2026, or when 90% of initial capacity is subscribed with construction substantially complete, whichever comes first

Requires the utility to petition the State Corporation Commission to initiate a part three expansion proceeding once 268 megawatts of part two capacity reaches substantial completion

Allows subscriber organizations to distribute excess bill credits to subscribers more frequently than once per year, removing the previous annual-only distribution requirement

Mandates the Commission to evaluate program costs and benefits in the part three proceeding, including impacts on long-term utility costs, renewable energy compliance, and economic effects on the Commonwealth