Residential Solar Panels Virginia

However in virginia residential electricity is about 0 12 per kwh which is near the national average according to the u s.

Residential solar panels virginia.

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. 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. Return on investment for residential solar power in virginia. In virginia the average solar payback period is 12 52 years.

Average electricity costs in virginia. Check your savings costs tax breaks incentives and rebates. So let s have a play with the numbers to see what sort of return you ll get. 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.

Internal rate of return. The tax code is not entirely devoid of love for solar power. Solar panel cost data virginia 2020 updated. Exempting the value that the solar power system adds to your home from being counted in property tax calculations.

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. Virginia passed legislation way back in 1977 authorizing municipalities to exempt residential solar power systems from taxation i e. High utility costs generally drive up the use of solar power. And 5kw of solar panels certainly isn t the biggest system most virginian roofs can take.