Benefits of Solar Energy
Solar energy offers multiple benefits. Let's look at a few of them.
- Reduced energy costs: Sourcing some or all of your own energy will cut power costs long-term.
- Better energy independence: Solar systems with battery storage work through power outages and emergencies, and you won't have to depend on the grid for your safety and well-being.
- Reduced carbon footprint: The sun is one of the universe's most abundant clean energy sources, meaning you can lower or beat your home's dependence on non-renewable sources.
What Solar Incentives Are Available to Norfolk Homeowners?
Virginia homeowners who choose solar could qualify for rebates, tax credits, special financing and reimbursements. Here are just a few of the area's incentive programs.
Incentive Type: Personal Tax Deduction
20% of the sales tax paid by an individual
Incentive Type: Property Tax IncentiveWebsite: law.lis.virginia.gov
Depends on the local governing body
Incentive Type: Property Tax IncentiveWebsite: dmme.virginia.gov
Varies (local option)
Incentive Type: Personal Tax CreditWebsite: ecowatch.com
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Norfolk
Choosing a company is the first step toward a well-oiled and cost-efficient solar array. Make your choice based on the following vital factors.
Licensing and Training
Since 2012, Virginia's Department of Professional and Occupational Regulation has issued Alternative Energy Systems (AES) licenses to contractors who install solar PV systems. A contractor with an AES license may need to subcontract HVAC, plumbing or electrical work. Solar providers can also earn certifications from trade groups and standards organizations. The most recognized ones in the industry come from the NABCEP. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Norfolk
Your solar modules' style will affect how much energy you can produce. Monocrystalline panels perform the best but cost the most. Polycrystalline panels generate less, but they're a great traditional option for low budgets. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
Additional components, such as electric vehicle (EV) chargers and battery storage, will add to your overall costs. However, they might make your solar system more efficient and convenient to use. Not every solar provider offers these extras, so look for a company that sells them if it's crucial for you.
You can expect to pay about $17,950 on average for a five-kilowatt solar energy system in Norfolk. Check the table in this section to get an idea of how much Norfolk solar companies might quote for your specific system.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Norfolk
Choosing the best financing option will affect your overall solar system cost and expected savings. Common payment options include loans, power purchase agreements, cash payments, and leases. Though it involves a large up-front payment, cash is the most affordable choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the next best option. As with a home or auto loan, you'll pay a monthly rate towards system ownership, including interest. You can still apply for money-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to rent your panels for a fixed monthly rate, while PPAs let you pay only for the energy you use, similar to an electric bill. Both options disqualify you for solar incentives and do not provide you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Look for companies that offer several payment plans to find the right fit for your pocket.
The table below lists the average payback periods for different capacities of solar systems in Norfolk.
You can claim a 26% federal tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, utilities and local governments may have their own financing plans and rebates that could reduce your total cost even more.
|Solar System Capacity
|Estimated Payback period
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Frequently Asked Questions About Solar in Norfolk
How much energy and money could I save per year by switching to solar?
How popular is solar energy in Norfolk?
Will solar energy systems raise my Norfolk home price?
How can I determine my home's solar viability?
How long does the solar panel installation process take?
What is the average payback period for Norfolk solar panels?
How can I enhance my solar panels' performance?
- optimize the panels' position with your solar installer
- regularly clean your solar panels
- upgrade to a more efficient inverter trim or cut down trees in the way of your panels
- use energy-efficient appliances
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