Virginia Solar Calculator

Enter your utility and monthly bill — get system size, Dominion net metering savings, Virginia SREC income, property tax exemption, and 25-year savings.

Your Virginia solar inputs

Monthly electric bill?

Electric utility?

System size?

Battery backup?

Virginia solar estimate

15 × 400W panels (6 kW system)

Recommended size for your bill: 9.7 kW

Monthly usage1,000 kWh/mo

Annual production (VA 4.3 PSH)7,534 kWh/yr

Net metering savings$979/yr

VA SREC income (~7.5 SRECs/yr)$170/yr

Total annual benefit$1,149/yr

Gross system cost$15,480

Federal ITC (30%)-$4,644

Net cost after ITC$10,836

Property tax exemption (est.)$2,786

Payback period9.4 yrs

25-year savings$28,722

Virginia net metering credits exported solar at retail rate. VA SRECs trade at ~$22.50/SREC — register your system with PJM-GATS to earn SREC income. SREC prices fluctuate.

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How to Use This Calculator

Enter your bill and select your utility

Dominion Energy Virginia serves most of the state — Northern Virginia, Richmond, Hampton Roads, and the Eastern Shore. Appalachian Power (AEP) serves Southwest Virginia including Roanoke, Blacksburg, and the New River Valley. Your utility determines your rate and whether you have access to Dominion's net metering program.

Virginia net metering at retail rate

Virginia law requires utilities to credit solar customers at the full retail rate for exported electricity. This makes solar economics straightforward — every kWh you export to the grid is worth as much as a kWh you use directly. The net metering credit appears on your next bill. Annual true-up reconciles net credits at year end.

Virginia SRECs

Virginia's Renewable Portfolio Standard creates demand for Solar Renewable Energy Certificates (SRECs). Each 1,000 kWh (1 MWh) of solar production generates one SREC, which can be sold for additional income. Virginia SRECs currently trade at approximately $22.50/SREC. Register your system with PJM-GATS after installation to start earning SRECs — your installer can help with registration.

The Formula

Monthly kWh = Monthly Bill ÷ Electricity Rate Annual Production = System kW × 1000 × 4.3 PSH × 365 × 0.80 efficiency ÷ 1000 Self-consumed kWh = Annual Production × 0.60 Exported kWh = Annual Production − Self-consumed kWh Net Metering Savings = Annual Production × Retail Rate (VA credits at retail) VA SREC Income = (Annual Production ÷ 1000) × $22.50/SREC Total Annual Benefit = Net Metering Savings + SREC Income Gross Cost = System kW × 1000 × $2.58/W + Battery ($12,000 if added) ITC Credit = Gross Cost × 30% Net Cost = Gross Cost − ITC Credit Payback = Net Cost ÷ Total Annual Benefit

Virginia averages 4.3 peak sun hours (PSH) statewide — Virginia Beach and Norfolk average 4.7 PSH, Richmond gets 4.4, Northern Virginia gets 4.2, and the Shenandoah Valley averages 4.1. At $2.58/W, Virginia installation costs are slightly above the national average due to NoVA's higher labor costs. Virginia's retail-rate net metering makes exported solar as valuable as self-consumed solar, simplifying the calculation.

Example

David — Richmond Dominion Energy customer

David lives in Richmond (Dominion Energy territory) paying $160/month at $0.13/kWh. He wants an 8 kW system to offset most of his electricity consumption.

Monthly bill$160 (Dominion Energy, $0.13/kWh)

System8 kW, no battery

LocationRichmond, VA (4.4 PSH)

Result

Annual production~10,175 kWh/yr

Net metering savings~$1,323/yr

VA SREC income (~10 SRECs)~$225/yr

Total annual benefit~$1,548/yr

Gross system cost~$20,640

Federal ITC (30%)-$6,192

Net cost after ITC~$14,448

Payback period~9.3 years

25-year savings~$38,700

David's combination of retail-rate net metering and SREC income produces a solid payback under 10 years. Virginia's SREC program adds meaningful income — roughly $225/year for an 8 kW system — and this income is separate from electricity bill savings. David registers with PJM-GATS to start selling SRECs after his system is interconnected.

FAQ

How do Virginia SRECs work? ▼

A Solar Renewable Energy Certificate (SREC) is created for every 1,000 kWh (1 MWh) of solar electricity your system produces. Virginia's Renewable Portfolio Standard requires utilities to meet renewable energy targets, creating demand for SRECs. You sell SRECs separately from your electricity — they're an additional income stream on top of net metering savings. Virginia SRECs currently trade at approximately $22.50/SREC, though prices fluctuate based on RPS compliance demand. An 8 kW system in Virginia produces roughly 10 SRECs/year = ~$225/year in SREC income. Register your system at PJM-GATS (Generation Attribute Tracking System) after installation to start earning. Your installer handles the interconnection application; GATS registration is a separate step you do yourself or through a SREC broker.

Does Virginia have a property tax exemption for solar? ▼

Virginia's solar property tax exemption is at the local level, not state-mandated. Virginia Code § 58.1-3661 authorizes (but does not require) localities to exempt solar from property taxes. Most Virginia jurisdictions have adopted the exemption, including Fairfax County, Arlington, Loudoun, Richmond City, and Virginia Beach. A few rural localities have not. Check with your county assessor's office to confirm your locality's solar exemption status before installation. Where the exemption applies, it prevents your home's assessed value from increasing due to the solar system — saving $200-600/year in property taxes depending on your locality's rate.

How does Dominion Energy Virginia net metering work? ▼

Dominion Energy Virginia's net metering program credits your account at the full retail rate for excess solar electricity you send to the grid. Monthly, net consumption is calculated (electricity used minus solar produced). If you produce more than you use in a month, the excess becomes a credit on your next bill. At year-end (or upon leaving net metering), any remaining credits are paid out at a reduced rate. Dominion's program applies to systems up to 20 kW for residential customers. The interconnection application takes 4-6 weeks; Dominion installs a bi-directional meter at no charge. Note: Dominion's net metering rules may change as Virginia transitions to its Clean Economy Act targets.

Is solar worth it in Northern Virginia vs. other parts of the state? ▼

Northern Virginia (NoVA) has slightly lower sunshine than the rest of Virginia (~4.2 PSH vs. 4.4-4.7 PSH for Richmond/VB) but higher electricity rates and home values. The property tax exemption is more valuable in NoVA because assessments are higher — a 6 kW system worth $15,000 might save $200/year in Loudoun County vs. $80/year in a rural county. NoVA also has higher installer competition, which can lower prices. Virginia Beach and Hampton Roads have the state's best sunshine (4.7 PSH) and are among the best solar locations on the East Coast. Southwest Virginia (Appalachian Power) has lower rates and less sunshine, making payback periods 1-2 years longer.

What Virginia state incentives exist for solar? ▼

Virginia's solar incentives include: (1) Net metering at retail rate — Dominion and Appalachian Power credit solar at your full retail electricity rate; (2) SREC program — earn ~$22.50/SREC through Virginia's RPS requirements; (3) Local property tax exemptions — most localities exempt solar from property assessments; (4) Sales tax exemption — solar energy equipment is exempt from Virginia's 5.3% sales tax, saving $800-1,500 on a typical system; (5) Federal ITC (30%) — applies to all Virginia residents. Virginia does not have a direct state income tax credit for solar at this time, but the combination of net metering, SRECs, and tax exemptions makes Virginia one of the better mid-Atlantic states for solar economics.

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