Financial Incentives for Solar and Wind Energy and Energy Efficiency in Virginia

Virginia residents who install a solar or wind energy system at home can sell all the electricity they generate to a Tennessee Valley Authority power distributor. Solar and wind systems may also be exempt from local property tax. If you purchase Energy Star® appliances for your home you can take advantage of a sales tax holiday or claim a deduction on your Virginia state income tax return. Customers of Southside Electric Cooperative can take out a low-interest, unsecured loan for up to $15,000 to pay for energy efficiency improvements at home.

Tennessee Valley Authority Green Power Switch Generation Partners®

Virginians who install a solar or wind energy system at home or at their small business can take advantage of financial incentives offered by the Tennessee Valley Authority (TVA) and participating power distributors through their Green Power Switch Generation Partners® program. TVA will purchase 100% of the electricity you generate at $0.15 per kWh. You may also qualify for a $500 incentive to help offset the upfront costs of installing the system.

You receive payment in the form of a credit on your monthly electric bill. Payments are guaranteed for 10 years. The energy you consume, whether generated by your solar or wind system or delivered over the local power system, is billed to you at the standard rate.

To qualify for this incentive, your solar photovoltaic or wind turbine system must have an output of 0.5 to 50 kW AC. It must be connected to the grid and have a generation meter. The equipment must be UL or ETL listed and the system must be in compliance with the National Electric Code. The system must be permitted and certified by a licensed electrician.

If you are interested in this program, you should contact your local TVA power distributor. On the Tennessee Valley Authority website at www.tva.com under Green Power Switch Generation Partners® you can find a link to a list of participating power distributors.

Tax exemptions and deduction