Benefits of Solar Energy
Solar energy provides several advantages that will enhance your home for years to come.
- Reduced energy costs: Sourcing some or all of your own power will cut power costs long-term. Plus, some states provide net metering programs that make it possible for you to sell your extra energy back to the grid, generating additional credits toward your energy bill.
- Reduced carbon footprint: Using clean solar power reduces your dependence on fossil fuels, which release greenhouse gases that damage the environment.
- Better energy independence: Solar energy can keep your home functioning through blackouts and emergencies. You can use your solar energy anytime with an optional battery backup system.
What Solar Incentives Are Available to Virginia Beach Homeowners?
Virginia homeowners who upgrade to solar could qualify for special financing, reimbursements, rebates and tax credits. Here are just a few of the area's incentive programs.
Incentive Type: Personal Tax Deduction
Incentive Amount:
20% of the sales tax paid by an individual
Incentive Type: Property Tax Incentive
Website: law.lis.virginia.govIncentive Amount:
Depends on the local governing body
Incentive Type: Property Tax Incentive
Website: dmme.virginia.govIncentive Amount:
Varies (local option)
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
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 Virginia Beach
The more thorough your company investigation is, the better your solar installation will ultimately perform. Consider all of these elements in your business search.
Licensing and Training
Since 2012, the Virginia Department of Professional and Occupational Regulation has issued Alternative Energy Systems (AES) licenses to contractors who work on solar photovoltaic systems. Even if a contractor has an AES license, they may still need to subcontract plumbing, HVAC or electrical work. Solar providers can also obtain accreditations from standards organizations and trade groups. The most prestigious 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 Virginia Beach
Your solar panels' type will impact how much power you can produce. Monocrystalline panels are among the highest quality and 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 accessories, such as battery storage and electric vehicle (EV) chargers, will increase your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar company provides these add-ons, so look for a provider that sells them if it's important for you.
You can plan to spend about $17,950 on average for a five-kilowatt solar energy system in Virginia Beach. Check the table in this section to get an idea of the amount Virginia Beach solar companies might quote for your specific solar system's price.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,153 |
| Solar Polycrystalline | $900 |
| Thin-Film | $526 |
| Solar Battery | $738 |
| Solar Home EV Charger | $2,768 |
Financing Solar Energy in Virginia Beach
Choosing the correct financing solution will affect your overall solar system cost and expected savings. Common payment options include cash payments, loans, power purchase agreements, and leases. Most solar experts recommend a cash payment or using a solar loan. Cash payments demand a large up-front sum, but they save you from paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Similar to a home or auto loan, you'll pay a set monthly rate with potentially $0 down. Solar leases allow you to pay a monthly rate to rent your panels, while a power purchase agreement lets you pay a fluctuating rate based on only the energy you use. We generally don't recommend these options since you will not have ownership of your system and are disqualified from solar incentives, but they might be suitable in particular circumstances. Ask each company you're evaluating about the payment options it offers. A team member can help you determine the best option for your financial situation.
The table below lists the average payback periods for different capacities of solar systems in Virginia Beach.
The IRS allows you to claim a 26% federal solar tax credit on the full cost of the solar system, so long as you purchase it before 2032. Local governments and utilities might also offer their own financing programs, incentives, and rebates that could save you more money.
| Solar System Capacity | Estimated Payback period |
|---|---|
| 1 kW | 2.3 years |
| 2 kW | 4.6 years |
| 5 kW | 11.6 years |
| 10 kW | 23.2 years |
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Frequently Asked Questions About Solar in Virginia Beach
How much money could I save by going solar in Virginia Beach?
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