Author: Zackary D. Jackson

Solar Horizons Plug into Natureverse By: Zackary D. Jackson

Top level, solar benefits in Virginia

A mere 4 years ago massive efforts and strides were initiated to increase access to renewable energy sources and promote clean energy jobs by Virginia Governor Ralph Northam in the signing of Executive Order 43 in September 2019.

This order set out an ambitious guidance and targets to make owning clean renewable energy not only feasible for many VA residents it also paved the path for the state to be inline to have one of the most favorable laws to support and make, making the switch to solar quite financially viable and even noticeably profitable for the courageous early adopters.

The Commonwealth set targets to use renewable energy sources to power 30% of its electrical system by 2030 and 100% by 2050, initially concentrating on solar and onshore wind energy sources and later shifting its attention to offshore sources.

The goal of the order is to maintain Virginia’s leadership in clean energy innovation, address the urgency of climate change, and fairly distribute the positive effects of this energy growth on the economy, the environment, and public health to all Virginians. Given these lofty objectives, the state is among the top 10 states for the number of energy efficiency occupations.

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Section: 1. Reduced energy costs
Section: 2. Tax credits
Section: 3. SRECs
Section: 4. Increased home value
Section: 5. Environmentally friendly

This means that solar energy is set for an exponential growth curve in Virginia because of the state’s abundant sunshine and generous incentives.

With a 4-5 hour peak sunlight each day on average, the state also has strong solar potential, factoring this with the increased solar productivity potential in the photovoltaic technology in the solar cells and an ever decreasing price per watt, solar is looking mighty attractive these days. There are many financial advantages that can accompany owning a solar system and the state of Virginia is one of the states with one of the most generous state incentive programs in the country as a whole.

On the other hand we also have incentives at the Federal level as going green is more efficient and increases national security. Cash-strapped government entities mandated to be “greener” while they continue to raise our taxes? Sounds like a match made in heaven. Welcome to the world of solar incentives, where you can get both without having to purchase a single solar panel outright.

Section 1: Reduced Energy Costs “Reducing Costs with Solar:

Solar panels can power homes and reduce or eliminate utility bills.
Homeowners can get credits through net metering.
Tax credits, rebates, and other incentives may lower installation costs.
Solar energy systems have no fuel costs and can save homeowners money in the long term.
Solar energy systems have minimal maintenance costs.

Overall, the size of the solar energy system, the amount of energy used, and the local incentives and rebates offered will all have an impact on how much money a homeowner can save by switching to solar energy.

Solar panels are a form of renewable energy technology that produce electricity by harnessing the power of the sun. Solar panels can supply most or even all the electricity required to operate a home when they are mounted on the building. As a result, there may be no need for utility company electricity, which would save a lot of money on monthly energy costs.

Photovoltaic (PV) cells in solar panels use the sun’s energy to generate electricity. The PV cells turn solar energy from the sun into electricity, which is utilized to run the house. Through a procedure known as net metering, any extra electricity produced can be sent back into the grid and provide households credits on their energy bills.

Section 2: 30% Solar Tax Credit

The 30% solar tax credit, also known as the Investment Tax Credit (ITC), is a federal tax credit that allows homeowners to claim a credit for 30% of the cost of installing a solar energy system. This credit can be claimed on federal income taxes, and it is available to homeowners who install solar panels, solar water heaters, or other types of solar energy systems on their primary or secondary residence.

The solar tax credit can help homeowners to offset the upfront costs of going solar, making it more affordable to install a solar energy system. This can be especially helpful for homeowners who are considering going solar but are concerned about the high upfront costs. By claiming the solar tax credit, homeowners can reduce the net cost of their solar energy system by 30%, making it more affordable to make the switch to solar.

Section 3: Solar Renewable Energy Credits (SREC)s

A form of incentive program called Solar Renewable Energy Credits (SRECs) is used to promote the development of solar energy systems.

Homeowners in Virginia, did you know that by installing a solar energy system, you can earn credits for the clean energy you produce? These credits, known as SRECs, can be sold to utilities or other organizations, helping offset the cost of your solar energy system. It’s a win-win for both you and the environment!

The SREC program in Virginia has many Benefits:

Financial incentives: In addition to the cost savings, they realize from using their own solar energy, households and businesses can increase their income by selling their SRECs.

Promotes the growth of solar energy: By offering financial incentives for homeowners and businesses to install solar energy systems, the SREC program promotes the growth of solar energy systems.

Reduces dependency on fossil fuels: By producing their own renewable energy, individuals and organizations may lessen their need on fossil fuels and help create a system that is cleaner and more sustainable.

Moves us towards achieving renewable energy goals: By supporting the growth of more solar energy systems, the SREC program can aid Virginia in achieving its renewable energy targets.

Section: 4. Increased home value

Your home’s value and your equity may rise when you install solar panels on it. Solar panels help lower or even eliminate your monthly energy expenses by generating your own electricity, thus increasing the value of your home to future purchasers. Solar panels can also lessen a house’s carbon footprint, which will appeal to purchasers who care about the environment.

A government-sponsored company that offers mortgage funding to lenders is called Fannie Mae, commonly known as the Federal National Mortgage Association. In general, Fannie Mae adheres to the standards established by the Appraisal Institute, a specialized organization of appraisers, when valuing a home for mortgage purposes.

The Appraisal Institute advises appraisers to include the value of solar panel installations in their overall evaluation of a property. Appraisers should take the following things into account when doing this:

The solar panel system’s size and effectiveness: Systems that are bigger and more effective might be worth more than those that are smaller and less effective.
The age and state of the solar panel system: Aged older systems in bad shape may not be as valuable as newer systems in good shape.
The type of solar panel system: Thermal and photovoltaic solar panel systems, for example, may be valued differently.
The local market for solar panel systems: Depending on the local market and the demand for solar energy in the region, a solar panel system’s value may change.
Governmental incentives or subsidies for solar energy could have an impact on the cost of a solar panel system.

Garage Solar Layout

When evaluating a property, appraisers must consider all pertinent elements, including the cost of any solar panel systems, according to Fannie Mae. The value of a solar panel system should be evaluated by appraisers as part of their overall evaluation of a property using their professional judgment.

Installing solar panels will enhance home equity by a range of percentages, but some research has shown that solar-powered homes tend to sell more quickly and for higher prices than comparable properties without solar power. After adding solar panels, homeowners often see a rise in home equity of 4% to 6%, though this amount can change based on several variables, such as the local real estate market, the size and efficiency of the solar panel system, and the overall energy efficiency of the home. It’s important to keep in mind that solar panels may not bring the same value in every market.

Section: 5. Environmentally friendly

Clean and renewable energy is produced by solar panels. Solar energy, which is obtained from the sun, is used to create electricity. This means that unlike fossil fuels, which are a major factor in climate change, solar panels do not emit damaging greenhouse gases or other air pollutants.
Solar panels lessen dependency on fossil fuels: Solar panels can provide the majority of the electricity required to power a home, if not all of it. This can lessen the demand for electricity produced from fossil fuels like coal, natural gas, and oil. This may lessen our dependency on fossil fuels, a limited resource that also contributes to smog and climate change
Because solar energy does not use water to produce electricity, unlike some other energy sources like coal and nuclear power, it can aid in the conservation of natural resources. This can lessen the demand on our water supply and help to conserve water resources.
Using solar energy to create power allows us to lessen our carbon footprint and lessen the effects of climate change because it doesn’t produce any greenhouse gases like carbon dioxide or other air pollutants.

Overall, installing solar panels on your home can help to reduce our reliance on fossil fuels, conserve natural resources, and reduce our impact on the environment.

Key Takeaway for Virginians:

In conclusion, there has never been a better time for households to make the move as the solar revolution is gaining momentum in Virginia. You’ll not only save your energy expenses but also have a positive effect on the environment and your neighborhood. Additionally, consider all the additional money you’ll need to spend on the house improvements you’ve always desired. Don’t put it off any longer; harness the power of the sun today and become a part of Virginia’s solar movement. Start enjoying the rewards right away!