The state of Virginia passed the Clean Economy Act that mandates the utility companies in Virginia to transition 30% of their electricity created to renewable energy by 2030. They are also seeking to become 100% renewable by 2050. They have also ordered all coal plants to be shut down in the year 2024 after multiple issues with the pollution from the coal ash making its way into the waterways. Solar systems that are installed in certain areas will also be exempt from property tax increases.
When you own your solar system there can be times when you will be making more electricity than your home needs to use at that moment. With net metering, you are able to deduct from the energy you use from the utility by gaining equal bill credits from the excess energy you sent out to the grid. This process helps ensure that you get value from all of the electricity your system creates and allows you to use the credits in seasons where your home needs the excess power.
State mandates have been put on utility companies that require a certain percentage of the electricity produced on their grid to come from a renewable source. For the electric companies to show proof that they have created the green energy that has been mandated they must purchase their SRECs (Solar Renewable Energy Certificates) from the owners that contributed. In addition to getting credit for the energy created, SREC’s are a good way for homeowners and businesses to receive income for helping to reduce our carbon footprint. Have one of our representatives create a system design for your home to help give you an idea of the amount of SRECS you could receive in the years to come.
Let us come out and give you a free consultation. We’ll calculate your savings, let you know what incentives you qualify for and answer all your questions.
