2024 Solar Incentives Guide for Rose Hill, VA - Tax Credits & Rebates

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

You'll learn about:

  • Local & State Solar Incentives
  • Federal Tax Credits (Updated for 2024 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 Rose Hill solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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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 Rose Hill?

Local Option- Renewable Energy Machinery and Tools Property Tax Exemption

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

Income Tax Deduction for Energy-Efficient Products

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

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/


Solar incentives are intended to encourage homeowners to switch their home over to renewable energy by providing financial incentives that lower the burden of solar panel installation and use. You may be eligible for various kinds of incentives, including discounts, cash back or monthly utility bill credits, depending on your situation. Some incentives come from your specific utility company, county or municipality, some from the state of Virginia and others from the federal government. You might qualify for any of the following types of solar incentives:

  • Rebates: Solar companies may help you claim a rebate, or partial refund of your purchase, for your solar panels. Counties or states will also offer limited-time rebates at various times. The value of a rebate will usually come off your total price before tax credits are calculated.
  • Tax Exemptions: Sales tax exemptions are applied at the time of purchase for your solar system. Property tax exemptions allow you to exclude the value that your solar panels add when calculating how much property tax you need to pay on your house.
  • Tax Credits: Different from tax deductions, tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government.
  • Net Metering: Net metering is an incentive you can get after your solar system is up and running. If you have a net metering agreement in place with your Rose Hill utility company, the company will subtract the value of the excess energy your solar system produces from your utility bill each month. In some areas, this credit is dollar-for-dollar, while in others you might receive a refund equivalent to a percentage of the value.
  • Solar Renewable Energy Certificate (SREC): SRECs and other similar performance-based incentives are generally handled at the state level. Once your solar panel system meets a certain threshold (typically a small amount of energy production), you can receive SRECs that can be sold to your utility company or other buyers. The money you receive is generally considered part of your taxable income.

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Palmetto Solar

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  • Quality of installation may vary by location

Federal Solar Incentives

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

The ITC can be applied to solar panels installed after January 1, 2006, on a primary or secondary residence that you own in the United States. Initially, the credit applied to 30% of the total cost – for panels, labor, equipment and accessories – although the percentage may range from 26-30%, depending on when your solar system was installed. There is no cap on the claim amount.

Reaching out to your local Rose Hill solar panel installer is the best way to learn more about how the ITC may apply to your situation.

The ITC has been renewed and expanded following the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. Under the new program, solar installation projects that are completed between 2022 and 2032, might qualify for a 30% tax credit. This percentage will then see a slight annual decrease until the end of the current Clean Energy Credit in 2035. Starting in 2023, the program expansion will also make it easier to get credit for energy storage systems.

More information about the new Inflation Reduction Act can be found here. Your local Rose Hill solar panel company can answer your questions and explain how the new Clean Energy Credit may apply to you.

State & Local Solar Incentives

Some solar incentives may be provided by state and local governments. Like with federal incentives, these could include tax credits, rebates and more. These incentives may be given out by the Virginia government, or by your county or municipality. Certain incentives are available for a limited time, while others are ongoing.

Next Steps for Installing Solar in Rose Hill

Solar incentives might be offered by your local utility company, the Virginia government or the federal government. The growing number 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 Rose Hill solar installation expert for more information about these incentives and to be sure that you're getting the largest number possible for your solar panels.

EcoWatch's Rose Hill, VA Solar Incentives FAQs

How do I know if I qualify for specific solar incentives?

Typically, solar incentives apply to:

  1. a new solar system
  2. installed on a property that 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, might have additional qualifications. Talk to your local Rose Hill solar installer to learn more about what incentives your project will qualify for.

My home already has solar panels. Do I qualify for any incentives?

If your solar panels were installed after January 1, 2022, you may qualify for the newly increased 30% tax credit under the Inflation Reduction Act. If you installed your system between 2006 and 2021, you may qualify for a tax credit between 26% and 30%, depending on the exact installation date. Speaking with the company that installed your solar system, or any local Rose Hill solar installer, can help you understand what incentives you qualify for.

Who installs solar panels near me?

To find the best solar panel installer in your area, check out our guide to the best solar companies in Rose Hill.

When does the federal solar tax credit end?

The federal solar tax credit, formerly called the ITC and now titled the Clean Energy Credit, is slated to end on January 1, 2035. The current 30% credit will end in 2032, replaced by a 26% credit in 2033 and a 22% credit in 2034.

If I change out my appliances for ones that use solar energy, are there any credits I can claim?

The new Inflation Reduction Act includes provisions for several incentives that reward homeowners who make eco-friendly upgrades. Some incentives include rebates and tax credits for installing new electric appliances. You can find more details about these incentives here.

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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