Loudoun County Solar Tax Incentives in full swing!
Loudoun County residents are able to take advantage of awesome financial incentives specifically for installing a photovoltaic solar electric system. Virginia law allows for a special property tax exemption for solar equipment, and Loudoun has taken this law one step further, implementing a property assessment reduction equal to the total value of the solar equipment. Additionally, the HUGE 30% federal investment tax credit for solar (ITC) has been extended for residences until 2021, and for businesses until 2018. Businesses must act fast to capture the savings! The Solar Renewable Energy Credit (SREC) trade market in Virginia is still going strong, allowing solar system owners to earn cash just for producing renewable energy, even if they don’t export any electricity to the grid. And lastly, special tax incentives exist for businesses and home businesses. Right now, solar equipment is eligible for rapid depreciation with a 50% bonus depreciation the first year. What this means is that you can reduce the cost of ownership of a solar system for your business by 47% in the first year. Contact us for more information at firstname.lastname@example.org !