Benefits of Going Solar in Virginia:
Reduced electricity bills
Increased property value
Reduced carbon footprint and environmental impact
Protection against rising energy costs
Potential to earn money through net metering and solar renewable energy credits (SRECs)
Top Utilities Net Metering Policies in Virginia:
Dominion Energy: Net metering available for residential and commercial customers, with excess energy credits rolling over to the next billing period at the retail rate.
Appalachian Power: Net metering available for systems up to 20 kW, with excess energy credits rolling over to the next billing period at the avoided cost rate.
Rebates and Incentives for Going Solar in Virginia:
Solar Investment Tax Credit (ITC): 30% federal tax credit for the cost of solar installation.
Virginia Clean Energy Rebate: Rebate of up to $2,000 for residential solar installations, and up to $50,000 for commercial installations, for systems installed by qualified installers.
Sales Tax Exemption: Exemption from sales tax for solar equipment purchases.
Property Tax Exemption: Exemption from property tax for the added value of solar panels.
Net Metering: Allows homeowners to earn credits on their energy bills for excess energy produced by their solar panels.
Solar Renewable Energy Credits (SRECs): Credits earned for every 1,000 kilowatt-hours of solar energy produced, which can be sold on the market for additional income.