It’s often been said (and we agree) that Virginia is for lovers... of solar power, that is. From Virginia Beach to Roanoke, homeowners in the Commonwealth are going solar and saving hundreds of dollars on their electricity bills. Thanks to falling installation costs and strong solar rebates and incentives, going solar is a smarter investment than ever in the Old Dominion.
The best way to compare your solar options and save money at the same time is by registering on the EnergySage Marketplace. When you compare quotes for solar panels on EnergySage's competitive solar marketplace, you can expect to see prices up to 20% lower than working with a single solar company. Read our updated article on the cost of solar panels to compare solar costs across states and by panel brand.
What are the best solar power rebates and incentives in VA?
If you’re a solar shopper in Virginia, you have many solar rebates and incentives available to reduce your solar installation costs:
Solar Renewable Energy Certificates (SRECs)
With the passing of the Virginia Clean Economy Act (VCEA), the state set a renewable portfolio standard that includes a stipulation to produce at least 1% percent of its electricity from solar resources – and you can get paid to help! Under this program, you can earn one SREC for each megawatt-hour (MWh) of clean electricity your panels produce. You can sell these SRECs to utilties and earn extra income for generating solar electricity
The federal solar tax credit
Don’t forget about federal solar incentives! With the investment tax credit (ITC), now referred to as the Residential Clean Energy Credit for residential systems, you can reduce the cost of your PV solar energy system by 30 percent. Keep in mind that the ITC applies only to those who buy their PV system outright (either with a cash purchase or a solar loan), and that you must have enough income for the tax credit to be meaningful (unless you’re a tax-exempt entity, in which case you might be eligible for a direct payment).
The benefits of going solar in Virginia
Residential property tax exemption
All of the benefits of solar mean that installing a solar energy system on your home can increase your property value. That’s great news for homeowners who want to sell their property, but what about the impact of higher home value on your property taxes? Virginia has a law allowing localities to exempt or partially exempt solar from the property taxes residents pay. Note, however, that not all localities allow this exemption – currently only 30 do. If yours doesn't, you may wish to petition your Board of Supervisors to approve an ordinance to allow it.
Net metering in Virginia
When you sign up for net metering, you get credits on your electricity bill for every extra kilowatt-hour of solar electricity that you send back to the grid. When you need more electricity than your solar panels are producing, you can use your net metering credits to make up the difference – helping you to balance out your electricity production and use. Dominion Energy offers the top utility net metering program in Virginia.
