Virginia No Cost Solar Program

Plus they can sell their srecs solar renewable energy credits to earn even more income.

Virginia no cost solar program.

Consumers have different financial options to select from when deciding to go solar. Dominion energy virginia s most recent long term plan forecasts the potential for at least 15 900 megawatts of solar in the state over the next 15 years to meet customers energy needs. Due to the steep upfront costs of around 32 000 in cash only those upper income families can afford to install solar arrays. Now in virginia the average home can get solar installed for 20 000 or less.

In fact on average a purchased home solar system generates. Virginia launches no upfront cost solar program for middle class homeowners virginia is one of the best states in the country if you want to go solar but only if you re rich enough. The benefits of going solar in virginia federal solar energy tax credit itc without a doubt the federal solar tax credit also referred to as the investment tax credit is one of the best incentives available for property owners in virginia with the itc you can deduct 26 percent of the cost of your solar equipment from your taxes that means major savings on your solar installation. However no cost and free are a little misleading because there is always an exchange for goods and services rendered.

That s a darn shame. In virginia there s no government program to install solar panels without cost. If you prefer to buy your solar energy system solar loans can lower the up front costs of the system. If a homeowner decides to buy a system they not only save on energy costs as soon as the system is operational but they also begin to generate profits from the excess energy their system produces and can take advantage of tax credits and grants.

Virginia incentives for energy efficiency and energy conservation. Virginia currently lacks any sort of statewide solar rebate program. As of september 2020 the average solar panel cost in virginia is 2 89 w given a solar panel system size of 5 kilowatts kw an average solar installation in virginia ranges in cost from 12 282 to 16 618 with the average gross price for solar in virginia coming in at 14 450 after accounting for the 26 federal investment tax credit itc and other state and local solar incentives the. Dominion energy has announced plans to develop multiple utility scale solar projects in virginia through 2020.

In general a purchased solar system can be installed at a lower total cost than system installed using a solar loan lease or power purchase agreement ppa. If the rps set mandatory levels of renewable energy production we can guarantee more utility companies would offer incentives to help you make the switch to solar. In the ppa s case the exchange for no cost solar panels is that you do have to agree to purchase power generated by those panels from your solar company at a reduced rate anywhere from a 10 30 reduction.