SUNBEAM INNOVATIONS
While Virginia does not currently offer a specific state-level income tax credit for solar, the combination of heavy federal tax relief, the state's active SREC market, and powerful net metering laws makes it one of the most financially compelling regions in the Mid-Atlantic to install a renewable energy system.
The foundation of your solar savings is the Federal ITC. This incentive allows you to deduct 30% of your total gross solar and battery system cost from your federal income taxes. If your system costs $28,000, you are eligible for an $8,400 federal tax credit. There is no maximum cap, and the credit rolls over if your tax liability is lower than the credit amount in year one.
Thanks to the Virginia Clean Economy Act (VCEA), utility companies are required to source a percentage of their power from solar. To meet these mandates, they purchase Solar Renewable Energy Certificates (SRECs) from homeowners. For every 1,000 kilowatt-hours (kWh) of electricity your system produces, you earn one SREC. You can sell these SRECs on the open market, creating an ongoing stream of direct cash payments over the lifetime of your system.
Under the Code of Virginia § 58.1-3661, local counties and cities are authorized to exempt or partially exempt solar energy equipment from property taxes. Many major jurisdictions in Virginia participate in this program, ensuring that the added equity a Tier-1 solar system brings to your home does not result in a penalizing increase to your annual property tax bill.
Our engineers will build a custom solar blueprint engineered for your operation — backed by 30-year linear warranties and Tier-1 equipment.
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