Power Innovation Program

The Virginia Department of Energy invites proposals for energy innovation within the Commonwealth of Virginia, with grants awarded at its discretion through the Virginia Power Innovation Fund and Program. This initiative is designed to support research and development of innovative energy technologies, including nuclear, hydrogen, carbon capture and utilization, and energy storage. The program aligns with the department's mission to foster energy advancement and secure Virginia's energy future through competitive grants. The program aims to establish a Virginia nuclear innovation hub and award grants to support energy innovation across the Commonwealth. Target beneficiaries include higher education institutions conducting research on advanced nuclear and advanced reactor technologies, and programs focused on nuclear energy workforce development. The initiative also supports site selection for future small modular reactor projects in Virginia. The overarching impact goals are to enhance energy affordability, reliability, and clean energy objectives within the Commonwealth. Key priorities for grant awards include projects demonstrating a strong return on investment, significant impact on energy affordability and reliability, and alignment with clean energy goals. The department also prioritizes capital investment and the utilization of research-based technologies. The program's focus areas are critical for advancing a diverse energy portfolio and ensuring long-term energy security for Virginia. Expected outcomes include advancements in innovative energy technologies, a more robust nuclear energy sector in Virginia, and a skilled workforce capable of supporting these developments. Measurable results will be assessed based on the return on investment, the positive impact on energy metrics within the Commonwealth, and the successful implementation of research-based technologies. The Virginia Department of Energy, in collaboration with the Virginia Nuclear Energy Consortium and the Secretary of Commerce and Trade, will oversee the grants and ensure thorough reporting on each project. Funding for individual grants can range from $10,000 to $1,000,000, with an overall program funding cap of up to $3 million, pending available funds.