Solar Power In Virginia

Except that it isn t really.

Solar power in virginia.

Dominion virginia power has announ ced plans to build 400 mw of solar over the next five years. Virginia department of environmental quality receipts control p o. Installing solar panels provides a 6 8 return on investment in virginia and a 5 kw array would return a profit of 16 041 over its 25 year life. The tax code is not entirely devoid of love for solar power.

Virginia passed legislation way back in 1977 authorizing municipalities to exempt residential solar power systems from taxation i e. These improvements in efficiency and design are part of the reason solar power in virginia has become so affordable. Under the agreement the university and darden will purchase the entire output of electricity produced at a new 160 acre solar facility in king william county for the next 25 years. Exempting the value that the solar power system adds to your home from being counted in property tax calculations.

They run from 7 in 2016 to 15 in 2025. The technology of solar panels in virginia and in general is at peak efficiency. While sunlight is not always plentiful in virginia residents should feel fortunate that the state offers strong financial incentives for going solar. Panel design is sleek practical and modern made to blend seamlessly with your roof.

Solar power in virginia on rooftops is estimated to be capable of providing 32 4 of electricity used in virginia using 28 500 mw of solar panels. Virginia solar power incentives tax breaks and rebates virginia rps. Solar power permit by rule net metering solsmartevery hour more energy from sunlight strikes the earth than the entire human population uses in a whole year. In 2015 the virginia general assembly passed legislation declaring it in the public interest for our utilities to build up to 500 megawatts mw of solar generation by 2020 enough to power at least 82 000 homes.

Dominion energy the university of virginia and its darden school of business have entered into an innovative solar power partnership. The state set targets for renewable energy generation in 2007. The sun s heat and light provide an abundant source of energy that can be harnessed in many ways. The old dominion has a half in half out sort of approach to its rps.

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.