Old Dominion is Getting an Upgrade… to Solar Power
Discover all the reasons why...
Virginia Homeowners Are Switching to Solar (Without Paying A Dime Up Front!)
IKEA and Prologis aren’t the only ones that have switched to solar power in Virginia. In fact, rooftop solar power in Virginia is estimated to be capable of providing 32.4% of electricity used in the state. With prices falling 53% in the last five years and 68,605 houses currently powered by solar power, Old Dominion isn’t showing signs of stopping. The state’s solar electricity is expected to triple in the next five years.
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Having set a voluntary Renewable Portfolio Standard goal in 2007, Virginia has invested nearly $784.99 million in its solar power initiatives. It’s no surprise that the state’s solar incentives include rebates, performance payments, and tax exemptions. Utility-scale solar facilities can take the most advantage of incentives, but residential solar power is picking up speed and showing promise as Virginia’s solar plan continues to evolve.
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Rebates & Incentives
Virginia has a law stating that solar energy equipment is exempt from local property taxes, so the extra value your solar panels bring won’t mean extra taxes for you to pay. Another incentive available for property owners in Virginia is the Federal Solar Energy Tax Credit, which deducts 26% of the cost of solar equipment on residents’ taxes – that means major savings on your solar installation. *Disclaimer: Ion Solar is not a tax consultant and does not offer tax advice. Please consult your tax professional if you have additional questions
Proudly Serving Virginia Homeowners
Richmond Sales Office
3894 Old Williamsburg Rd.
Sandston, Virginia 23150
Virginia Beach Sales Office
2697 International Parkway
Virginia Beach, Virginia 23452
Virginia Warehouse and Sales Office
2014 Exploration Way, Unit #2040
Hampton, Virginia 23666
Rather than its Solar Purchase Program, which allows homeowners to sell their solar electricity, Dominion Energy alternatively offers the top net metering program in the state. This service applies primarily to utility solar power, but can also affect residences that produce more electricity than they need. The credit earned can apply to residents’ electric bills.
Useful Virginia Energy Resources
Federal Solar Investment Tax Credit Established by The Energy Policy Act of 2005, the federal tax credit for residential energy property initially applied to solar-electric systems, solar water heating systems and fuel cells.
Virginia's US Energy Administration Profile Explore the US governments official energy statistics for Virginia.
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