If you want to go solar in Virginia, don’t rush to buy solar panels blindly. There are programs that make going solar less painful for your budget. To learn more, read our article about solar incentives in Virginia.
The US government wants more people to go solar: it’s a modern and green way of getting energy. This is why the Solar Investment Tax Credit (ITC) program was developed. It allows American citizens to claim 30% of the cost of their installation as an income tax deduction. The cost here is not only solar panels, but also shipping, installation expenses and more. For example, if your system overall made you spend $10,000, the government returns you $3,000. To claim the ITC, complete all the necessary forms and submit them when filing your taxes.
Solar laws in Virginia allow customers of investor-owned utilities and electric cooperatives to join net metering programs. This gives residential solar owners an opportunity to put the excess electricity into the utility grid instead of storing it with batteries. When you sell your solar power to the grid, you receive credits that can be used to offset your next bills. In Virginia their value is equal to full retail electricity price. If you have unused credits at the end of the calendar year, you may choose to roll them over indefinitely or receive a payment at an avoided cost rate determined by the utility.
Renewable Energy Credits are certificates granted to any person or entity upon generation of each Megawatt-hour of clean electricity. Unlike with net metering, you don’t need to sell any electricity to get credits. There is one platform in Virginia that allows you to store and sell them: GATS. The value of RECs is always changing, which makes them similar to stock market assets. Based on the available data, selling PECs could mean anywhere from $300 to $1,000 annually for a 10kW solar system. Take a look at these detailed FAQs for further information.
A solar PV system installed in a home increases its value by about 4%, says the Zillow report. In Virginia it doesn’t always mean higher taxes. According to the state laws, any county, city or town can exempt from property taxes up to 100% of the value added as a result of a solar PV system installation. The number of local governments that have implemented this feature is constantly growing. Local building inspections are the right place to get any answers related to this incentive.
4%
this is how much solar panels increase the value of your house
A solar easement contract is a written agreement between you and another party, for example, your neighbor. This type of contract helps to ensure that your PV system will always have adequate sun exposure, protecting you from potential obstacles. It is voluntary, but can not be canceled unless a specific clause is included in the document. Once signed, it is tied to the land, not the owner. Any such agreement must be created in written form and must meet the general requirements for legal contracts.
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Years of experience in translation and a love of nature help Julia find the right words to encourage going solar. She joined the team in 2023 and is happy to make her contribution to a greener future.
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