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Virginia - Energy tax credit, solar rebates, grants, incentives

Virginia energy tax credits, rebates, grants and incentives

Virginia renewable energy incentives

Green building incentive program – Arlington County

  • If a building passes green building standards through the Leadership in Energy and Environmental Design’s (LEED) green building evaluation system, they can be considered for additional benefits, such as bonus densities and/or heights to construction projects.  This is evaluated on a case-by-base basis.
  • If additional benefits are given, the building may be granted an extra 0.15 to 0.35 floor area ratio.  The magnitude of the floor area ratio bonus is dependent upon the certification level of the building.

Property tax exemption for solar

  • Depending on the city or county of residency, solar energy tools and recycling tools can be deemed exempt or partially exempt from local property taxes.
  • Any tool that utilizes solar power for water or space heating/cooling is considered tax-exempt.
  • Not all counties and cities support this exemption.

Net metering

  • If a system creates surplus energy, net metering is offered on a first-come, first-served basis.  This is available until customer-generated power reaches 1% of the electric utility’s peak-load prediction of the preceding year.
  • Credit is granted from the electric distribution company with each monthly bill for the amount that the costumer’s installation produces.  If there is remaining surplus energy after one year (12-month service period), customers have the opportunity to either carry the NEG over to the next year or sell the remaining NEG to the electric distribution company.
  • Prior to the start of the net metering period, the costumer must formulate an energy purchase agreement with the electric distributing company if the costumer intends to sell NEG at the end of a 12-month service period.
  • Net metering is available to clients of investor-owned utilities and electric coops, but unavailable to clients of city utilities.

Green power switch generation partners program – TVA

  • Tennessee Valley Authority (TVA) clients have installation incentives available to them, such as solar PV, wind, biomass, and small hydropower systems with participating TVA companies.
  • The green power switch is a pricing program, providing technical support and various incentives for purchasing a renewable energy system.
  • For solar energy, TVA purchases energy output at $0.12/kilowatt-hour.  For other renewable energy systems, TVA purchases at $0.03/kilowatt-hour.
  • Reimbursement is given in the form of credit on each monthly bill from the electric distribution company.
  • First-time subscribers of the green power switch program are granted a $1,000 bonus to help cover for installation costs.

Federal energy tax credit for solar panel, wind turbine, geothermal and fuel cell systems

  • Taxpayers and commercial businesses are granted an energy tax credit of 30% of the total expenses, which include installation of solar panel (PV-electric) systems, solar thermal systems, fuel cells and labor expenses.  Residential wind energy installations and geothermal pumps are also subject to a tax exemption.
  • Solar electric installations and solar thermal heaters no cap on the tax incentive.
  • If there is excess federal tax credit, it may be carried over to the subsequent taxable year.
  • This tax credit is in force through 2016, under which unused credit may or may not be expunged.      

Federal energy conservation subsidy exclusion for residential systems

  • Public utilities provide residential purchasers with an exemption of 100% of energy conservation subsidies.
  • The overall worth of an installation or renewable such as solar space heat, photovoltaics, or solar thermal, will be excluded from the buyer’s gross income.
  • Customers who participate in a utility company’s energy conservation program may be given a reduced rate of electricity utilized or a nonrefundable credit of the price of the electricity on the customer’s monthly electric bill.

Energy-efficient mortgages

With this federal loan program, homeowners may utilize energy-efficient mortgages (EEM) to either supplement or completely fund renewable energy systems.

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