Do Solar Panels Make Sense In Virginia

In virginia the average solar payback period is 12 52 years.

Do solar panels make sense in virginia. West virginia does not offer solar power purchase agreements or leases. Internal rate of return. Check your savings costs tax breaks incentives and rebates. Solar panel size is quoted in terms of the theoretical electrical output potential in watts.

That is a profit of 32 281 for the median valued home in that state. The diy option is also well worth a look. You don t necessarily need to be an expert to make your own solar panels but you do need commitment to see the project through. If you have enough to make a purchase in cash you ll save more than with any other option but even with a 0 down solar loan your savings could still be in the tens of thousands.

A solar purchase like this will make sense for you if the following is true about you and your current situation. In new jersey homes with solar panels can sell for 9 9 more than homes without solar energy systems. On the other hand if your main reason to install solar is to cut pollution not save money then solar would make sense. How are you financing your solar panel system.

Regardless of the exact cost of installation there are many affordable financing options for solar panel systems. It just wouldn t make economic sense assuming you own rather than lease the solar panels. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value. Check your savings costs tax breaks incentives and rebates.

Now let s assume that you re buying a mid sized system 5 kw solar panels on your south facing roof should. Perhaps it would be a good idea to contact a solar advocacy organization and ask them to fight for solar in your state. West virginia solar power. The payback period to recoup the cost of the system would simply be too lengthy.

So let s have a play with the numbers to see what sort of return you ll get. Tax incentives make all the difference for green energy in general and especially for solar until technology improves sufficiently. And 5kw of solar panels certainly isn t the biggest system most virginian roofs can take. Solar power in west virginia on rooftops can provide 23 of all electricity used in west virginia from 6 300 mw of solar panels but west virginia will be the last state in the united states to reach grid parity the point where solar panels are cheaper than grid electricity without incentives due to the low cost of electricity about 0 062 kwh.

While solar leases and power purchase. Return on investment for residential solar power in virginia.