You may be wondering if a solar power system is worth the investment. After all, a moderately sized home solar system can cost around $12K to install and still won't cover all of your electrical needs. But, solar power brings with it a level of independence and increased savings that is very beneficial for homeowners.

Three Big Benefits of Installing Home Solar Power in Virginia

Saving Money with Solar Power

While a solar system is an initial investment for homeowners, it ends up saving you a lot of money in the near and long run. Homeowners can immediately reduce or eliminate their power bills by relying on their solar panels for electricity. 

Solar power systems are also connected to the electrical power grid and can feed excess electricity they produce back into the system. Power companies offer 'net metering' which gives homeowners credit on their electrical bills for their excess electricity.

There are also additional ways to save money with your new solar panels, like:

  • Property Tax Exemptions: Virginia offers an exemption on the increase in home value from installing solar panels. So, if you own a $250K home and increase its property value by $10,000 with a small solar system, you'll still only pay property taxes on $250K and not the new home value of $260K.
  • Solar Renewable Energy Credit (SREC): This program gives homeowners one SREC for every 1,000 kilowatt-hours generated by their solar panels. Homeowners can sell their SRECs to electricity companies and organizations subject to renewable energy mandates for about $40 to $70 per credit.
  • Federal Solar Tax Credit: A federal government program that's been around since 2006. Homeowners who install solar power can take 30% of the cost of their new solar system as a credit when filing their income taxes that year. So, if it costs $10,000 to install a solar power system, you can claim $3,000 of it as an additional income tax credit that year.

Boosting Home Values

As mentioned earlier, solar power has the 'power' to increase home values too. Per the National Renewable Energy Laboratory (NREL), every $1 you invest in solar power can increase your home value by $20. That's a pretty big return on investment!

Secondary Power Source

There's nothing like the peace of mind that comes from knowing you have another source of power available in case the city power grid goes out. With weather becoming more and more extreme these days, winter storms and hurricanes can cause cities to lose power for days or weeks. 

Even if you don't use solar battery banks, you'll still have power during the day when you can recharge phones and electrical devices, and help keep your home warm during cold, icy winters.

Learn More About Solar Power Installation from AAPCO in Richmond, VA

As a well-established home solar power installation company on the East Coast, AAPCO can help you get started with your journey into going green. We'll go over the benefits of solar power panels and put together a tailored estimate for a solar system. 

We're also experienced home remodelers who can provide bathroom remodeling, windows and doors, roofing, siding, and outdoor living solutions. Give us a call to request a free consultation with one of our specialists right away.