Virginia Solar Tax Incentives
Virginia is for lovers… of solar power, that is.
Homeowners in the Commonwealth are going solar, and LOVING it. From Virginia Beach to Roanoke, residents are soaking up and saving hundreds of dollars on their electricity bills.
With solar installation costs dropping significantly, and rebates rising, now is the best time to go solar in Virginia!
Virginia Solar Tax Credits, Incentives & Rebates
SOLAR SAVINGS & THEIR VALUE
Federal Solar Tax Credit (ITC) – 30% of the total cost of your solar equipment
Local Utility Solar Rebates – Varies (depending on the area you live in, call your local utility)
Other Programs Offered – Varies (Net Metering)
Additional Rebates from your Local Utility
Tennessee Valley Authority Green Power Providers
Should you choose to become an electricity generator, by participating in TVA’s Green Power Providers program, you’ll have the opportunity to be paid out for the solar energy you generate! Simply sell your electricity to TVA and they’ll pay you a premium payment (way above what you would pay for electricity normally) for the first 5 years the you participate in the Green Power Providers program. You can’t go wrong with a little extra cash in your pocket, and a shorter solar panel payback period.
Federal Tax Credits
The Federal Tax Credit, also known as the Investment Tax Credit, is by far one of the greatest incentives available for homeowners going solar. You can deduct 30% of the cost of your solar equipment from your taxes – thanks to the ITC. Meaning, you’ll be rewarded major savings on your solar installation.