Why Solar Now?


Why Solar Now?

1) 30% Federal Tax Credit Extended: The 30% Federal Income Tax Credit for solar systems has been extended to 2018 for businesses and 2021 for residences.

2) Local Tax Incentives:  Loudoun County customers receive a ten-year property tax exemption, equal to the assessed value of the solar system at the present property tax rate subtracted from the total real property tax.

3) Solar Renewable Energy Credits: Solar Energy Credits (SRECs) can still be sold in Virginia.  These credits are “rights” to solar electricity and generate additional revenue for solar system owners.

4) Net Metering: Virginia customers are entitled to net metering.  Excess electricity put back into the grid generates a credit on your account which can be carried forward for 12 months.

5) Solar Costs at All Time Lows:  According to a September 2015 report from Lawrence Berkeley National Laboratory, the average costs of solar projects have fallen from 2009 prices of $6.30 per watt to $3.10 per watt by year 2014, reflecting a drop of more than 50%.

6) Solar Efficiency at Peak: Currently solar panels have reached peak efficiency around 18%.  New technology has not yet proven to be cost effective or viable in the open market.