Virginia residential solar energy incentives

Green building incentive program – Arlington County:

-Buildings in Virginia that reach the green building standards by using the Leadership in Energy and Environmental Design’s (LEED) green building rating system are considered for bonus heights and/or densities to building projects on a case-by-case basis with this program.
-If the building is granted this bonus it may receive anywhere from an additional .15 floor area ratio up to a .35 floor area ratio depending upon the certification level the building achieves.

Property tax exemption for solar:

-In the state of Virginia, solar energy equipment or recycling equipment is allowed to be exempt or partially exempt from local property taxes depending upon the city or county you live in.
-Eligible solar energy equipment is anything that collects and uses solar energy for water heating, space heating or cooling.
-Some cities and counties do not offer this exemption.

Net metering:

-Net metering is offered on a first-come, first-served basis until the aggregated capacity limit of customer-generators reaches 1% of the electric distribution company's adjusted Virginia peak-load forecast for the previous year.
-Customers are granted a credit each monthly bill for the amount of energy their system generates. At the end of each 12-month period, if there is any excess generation left over the customer has the option of carrying the NEG forward to the next net metering 12-month period or selling the NEG to the utility.
-The generating customer must establish a power purchase agreement with the utility prior to the beginning of the net metering period in order to sell the NEG to the utility at the end of a 12 month period.
-Net metering is available to customers of investor-owned utilities and electric cooperatives, but not to customers of municipal utilities.

Green power switch generation partners program – TVA:

-Tennessee Valley Authority offers a production incentive for installing solar photovoltaics, wind, low impact hydropower, and biomass to customers of participating TVA power companies.
-Green power switch is TVA’s green pricing program which provides technical support and incentives for installing renewable energy systems.
-Through this program, TVA purchases the solar energy output at $0.12 per kilowatt-hour and all other renewable energy at $0.03 per kilowatt-hour.
-Payments are made in the form of a credit on the local participating utility’s monthly bill.
-All new participants of the green power switch generation partners program will receive a $1000 incentive to help offset initial cost of the system.

Residential renewable energy tax credit:

-This personal tax credit allows the taxpayer to claim a credit of 30% of expenditures including labor costs and installation of qualified residential solar-electric systems, solar water heating systems or fuel cells. Small wind-energy systems and geothermal heat pumps can also be accredited for.
-Solar-electric systems and solar water heaters have a maximum incentive of $2,000 if placed in service before 2009. There is no maximum incentive for systems placed after 2008.
-The excess amount of the federal tax credit may be carried forward to the next taxable year if it exceeds tax liability.
-This can be carried forward until 2016, but after that, it is unknown if the unused credit will be able to be forwarded.

Residential energy conservation subsidy exclusion:

-This is a personal exemption of 100% of energy conservation subsidies provided by public utilities.
-The value of a purchase or installation of any energy conservation measure by a customer such as solar water heat, solar space heat or photovoltaics will not be included in the customer’s gross income.
-Customers of an electric utility company, who participate in the utility’s energy conservation program, may receive a rate reduction of electricity furnished or a nonrefundable credit against the purchase price of the electricity on each monthly electric bill.

Energy-efficient mortgages:

-This is a federal loan program where homeowners can use EEM (energy-efficient mortgages) to finance renewable energy technologies in a home.