Residential Solar Panels Virginia

Virginia offers net metering to residential solar pv systems up to 20 kw in capacity.

Residential solar panels virginia. Internal rate of return. Regardless of the exact cost of installation there are many affordable financing options for solar panel systems. High utility costs generally drive up the use of solar power. This is higher than the average price of residential solar power systems across the united states which is currently 2 60 per watt.

Exempting the value that the solar power system adds to your home from being counted in property tax calculations. 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. Check your savings costs tax breaks incentives and rebates.

Solar panel cost data virginia 2020 updated. 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. Return on investment for residential solar power in virginia. The tax code is not entirely devoid of love for solar power.

As of sep 2020 the average cost of solar panels in virginia is 2 66 per watt making a typical 6000 watt 6 kw solar system 11 797 after claiming the 26 federal solar tax credit now available. Average electricity costs in virginia. Virginia passed legislation way back in 1977 authorizing municipalities to exempt residential solar power systems from taxation i e. So let s have a play with the numbers to see what sort of return you ll get.