Residential Solar Panels Virginia

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.

Residential solar panels virginia.

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

Average electricity costs in virginia. Virginia passed legislation way back in 1977 authorizing municipalities to exempt residential solar power systems from taxation i e. Solar panel cost data virginia 2020 updated. So let s have a play with the numbers to see what sort of return you ll get.

And 5kw of solar panels certainly isn t the biggest system most virginian roofs can take. Check your savings costs tax breaks incentives and rebates. Return on investment for residential solar power in virginia. Virginia offers net metering to residential solar pv systems up to 20 kw in capacity.

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. 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. Regardless of the exact cost of installation there are many affordable financing options for solar panel systems. Internal rate of return.