Residential Solar Panels Virginia

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.

Residential solar panels virginia.

The tax code is not entirely devoid of love for solar power. So let s have a play with the numbers to see what sort of return you ll get. Average electricity costs in virginia. Solar panel cost data virginia 2020 updated.

Regardless of the exact cost of installation there are many affordable financing options for solar panel systems. Virginia passed legislation way back in 1977 authorizing municipalities to exempt residential solar power systems from taxation i e. And 5kw of solar panels certainly isn t the biggest system most virginian roofs can take. This is higher than the average price of residential solar power systems across the united states which is currently 2 60 per watt.

However in virginia residential electricity is about 0 12 per kwh which is near the national average according to the u s. Virginia offers net metering to residential solar pv systems up to 20 kw in capacity. Net metering is a system in which solar panels or other renewable energy generators are connected to a public utility power grid and surplus power is transferred into the grid allowing customers to offset the cost of power drawn from the utility. 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.

Exempting the value that the solar power system adds to your home from being counted in property tax calculations. Internal rate of return. High utility costs generally drive up the use of solar power. In virginia the average solar payback period is 12 52 years.