Is solar power in Virginia worth it?

Is solar power in Virginia worth it?

Solar power in Virginia on rooftops is estimated to be capable of providing 32.4% of electricity used in Virginia using 28,500 MW of solar panels. Installing solar panels provides a 6.8% return on investment in Virginia, and a 5 kW array would return a profit of $16,041 over its 25 year life.

How much does it cost to install solar panels in VA?

$12,325 to $16,675
From Virginia data, it is shown that the average cost of a solar panel installation ranges from $12,325 to $16,675. On a cost per watt ($/W) basis, a solar panel installation in Virginia ranges in price from $2.46 to $3.34. See how Virginia compares to solar panel costs across the U.S.

Is solar power illegal in Virginia?

Virginia’s solar rights law means that bylaws cannot prevent homeowners from installing solar panels on their property. The only way a homeowners’ association that does not have a rule against solar panel installation in its recorded declaration could create such a rule would be to change the recorded declaration.

Does Virginia give a tax credit for solar panels?

Virginia does not have a state solar tax credit as some other states do. However, the federal solar tax credit is available to all homeowners throughout Virginia. The ITC provides a tax credit in the amount of 26% of your total cost of going solar.

How can I get free solar panels in Virginia?

The short answer is that if you want a fully functioning solar energy system installed at your home, for most of us, there’s no way to get it for free. Sorry. However, you can get solar at home in Virginia these days for no money down and monthly payments that are lower than your electric bill.

Can I install my own solar in Virginia?

A qualified, licensed solar installation company will make sure that your system qualifies for this benefit. But going DIY could disqualify you from the federal tax credit.

Do solar panels increase home value in Virginia?

Based on a recent study by Zillow, adding solar panels to your home can potentially cause your home to sell for 4.1% more on average than it might have otherwise. An average Virginia home is valued at around $320,000, which means that there’s potential for an additional $13,000 added to your home’s market price.

Can I install my own solar panels in Virginia?

In 2014, legislation was passed in the state of Virginia stating that an HOA may not outright restrict the installation of a solar power system, but they are entitled to “reasonable restrictions” such as size, place, and manner of placement.