Buy Solar Panels In Virginia

A solar payback period is the amount of time it takes for property owners who install solar panels to recover their initial investment through electricity savings.

Buy solar panels in virginia.

You just buy the power the panels produce through a power purchase agreement or ppa. But this option is not generally available to homeowners in virginia. However in virginia residential electricity is about 0 12 per kwh which is near the national average according to the u s. Energy information administration the price has been relatively steady since 2011 indicating that there hasn t been a huge shift in the supply or demand.

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. My son in law s maryland business just paid 300 000 to buy panels to cover their entire roof. Regardless of the exact cost of installation there are many affordable financing options for solar panel systems. In virginia the average solar payback period is 12 52 years.

Virginia has all the right pieces in place for strong statewide solar policy good net metering standardized interconnection and even the framework of an rps. The final steps are. High utility costs generally drive up the use of solar power. A recent study found that solar panels are viewed as upgrades just like a renovated kitchen or a finished basement and home buyers across the country have been willing to pay a premium of about 15 000 for a home with an average sized solar array.

The consensus on virginia solar power rebates and incentives.