2023 Solar Incentives Guide for Broadlands, VA - Tax Credits & Rebates

In this guide, we'll cover the latest solar incentives and rebates available in Broadlands.

You'll learn about:

  • Local & State Solar Incentives
  • Federal Tax Credits (Updated for 2023 and beyond)
  • Ways to optimize your solar investment

Solar installers are experts in maximizing your solar tax credits and rebates.
Get a free quote from one of our trusted Broadlands solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated September 15, 2023

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

What Solar Tax Credits, Incentives, and Rebates are Available in Broadlands?

Income Tax Deduction for Energy-Efficient Products

Incentive Type:
Personal Tax Deduction
20% of the sales tax paid by an individual

Local Option- Renewable Energy Machinery and Tools Property Tax Exemption

Incentive Type:
Property Tax Incentive
Depends on the local governing body

Local Option - Residential Property Tax Exemption for Solar

Incentive Type:
Property Tax Incentive
Varies (local option)

Federal Residential Renewable Energy Tax Credit

Incentive Type:
Personal Tax Credit
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.

Source: https://www.dsireusa.org/


The phrase "solar incentives" includes a wide range of financial incentives implemented to make installing and using solar panels more affordable. This is done to encourage people to switch to renewable energy. Solar incentives might include upfront discounts, cash back or monthly credits towards your utility bill. Some incentives are handled by the federal government, some by the state of Virginia and some by your specific utility company, county or municipality. You might qualify for any of the following types of solar incentives:

  • Tax Exemptions: Sales tax exemptions are applied at the time of purchase for your solar panels. Property tax exemptions allow you to exclude the value that your solar panels add when you calculate the amount of property tax you need to pay.
  • Net Metering: Net metering becomes relevant after your solar system is up and running. If you have a net metering agreement with your Broadlands utility company, the company will subtract the value of the excess energy produced by your solar system from your utility bill each month. In some locations, this is a dollar-for-dollar credit, while in others you might receive a refund equivalent to a percentage of the value.
  • Solar Renewable Energy Certificate (SREC): SRECs can be sold to your utility company (or other buyers) for money that is generally considered part of your taxable income. Typically, there is a small threshold of energy production to meet before your solar system qualifies for SRECs or other performance-based incentives. These kinds of incentives are generally handled at the state level.
  • Rebates: A rebate is a partial refund credited to your account after you've paid for your solar panels. These could be offered by your local utility company, your state or your county. The cash back that you get from the rebates is normally applied before tax credits are calculated.
  • Tax Credits: Tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government. (This is different from a tax deduction.)

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Warranty Coverage

ADT Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

Federal Solar Incentives

When someone says "solar incentives," you probably think of federal incentives first. A federal incentive that most people are likely familiar with is the Federal Solar Investment Tax Credit (ITC). This is a tax credit for a predetermined percentage of the cost of your solar system.

The ITC can be applied to solar panels installed on your primary or secondary residence in the United States. The solar panels have to have been installed on a property you own after January 1, 2006 for you to claim the credit. The ITC initially covered 30% of all system costs (panels, equipment, labor and accessories), although the total amount has fluctuated over the last few years between 26-30%. The installation date of your solar system will determine what percentage you are eligible for. There is no cap on the claim amount.

Have questions about how the ITC applies to your specific situation? Contact your local Broadlands solar panel installation expert to get more information.

The Inflation Reduction Act, passed in August 2022, expanded and extended the ITC (as well as retitling it the Clean Energy Credit). Homeowners can now qualify for a credit of 30% of the total costs of solar system installation for projects that began after January 1, 2022 and will be finished by the end of 2032. The percentage will then begin to decrease on a yearly basis until the Clean Energy Credit expires in 2035. Starting in 2023, it will also be easier to get credits for energy storage systems with the new act.

Click here to learn more about the new Inflation Reduction Act. To fully understand how the new Clean Energy Credit applies to you, talk to your local Broadlands solar installation expert.

State & Local Solar Incentives

There are more than just federal solar incentives; rebates, tax credits and more may be offered at the state and local level. Certain incentives are ongoing, while others are available for a limited time. Solar incentives might be given by the Virginia government, or by your county or municipality.

Next Steps for Installing Solar in Broadlands

Solar incentives may be offered by your local utility company, the federal government or the Virginia government. The variety of solar incentives available has helped nationwide use of solar energy increase greatly in the last 15 years. It is a good idea to talk to your local Broadlands solar installer for more information about these incentives and to ensure that you're getting the largest number possible for your solar system.

EcoWatch's Broadlands, VA Solar Incentives FAQs

How can I learn if I qualify for different solar incentives?

Typically, solar incentives apply to:

  1. a new solar system
  2. installed on property you own
  3. within the U.S.
  4. within the date range specified by a particular incentive.

Specific incentives, including ones handled by the Virginia government or by your county/municipality, may have additional qualifications. Get in touch with your local Broadlands solar installer to discover what incentives your project may qualify for.

If I installed solar panels on my house a few years ago, can I still claim incentives?

You should plan to talk to a representative from the company that installed your solar panels — or speak to a local Broadlands solar installer — to better understand which incentives you might qualify for. If your system was installed after January 1, 2022, you likely qualify for the recently increased 30% tax credit under the Inflation Reduction Act. Systems installed between 2006 and 2021 may qualify for a tax credit of 26-30%.

What are the best solar panel installation companies near me?

To find the best solar panel installers near you, read our article on Broadlands' best solar panel companies.

What are some environmental benefits of adding solar panels to my home?

You can decrease your carbon footprint by 300 pounds of CO2 annually when you switch to solar panels. This adds up to roughly 6,000 pounds over 20 years. Solar is also a renewable energy source, which means that switching your home over lessens the drain on our planet's resources.

Can I apply for incentives both towards the up-front cost of solar panels, and later as reimbursement?

Yes, you can claim both rebates and tax credits towards the cost of your solar panels. Depending on precisely which incentives you are applying for, they may apply in a different order. Make sure that you talk to your solar installer or a local tax professional to ensure that you are claiming incentives correctly and getting the most money you can.

Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.

Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.

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