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West Virginia is emerging as a promising state for solar energy, thanks to a range of incentives that make solar power more accessible and affordable. From state tax credits and utility rebates to net metering policies, West Virginia offers several financial benefits for those interested in investing in solar energy. In this article, we’ll break down the key solar incentives available in West Virginia, explaining how they work and how you can leverage them to reduce your solar installation costs and enjoy long-term energy savings while supporting a cleaner, more sustainable energy future.
The Residential Clean Energy Credit
The Residential Clean Energy Credit, previously known as the Federal Investment Tax Credit (ITC), can reduce the cost of your solar panel system by 30%. This incentive covers the entire system, including equipment, labor, permitting, and sales tax.
To claim this incentive, you need to purchase your system with cash or a solar loan, as leasing does not qualify for the ITC. You must have a sufficient federal tax liability to use the credit, though any unused portion can be rolled over year-to-year until the ITC expires at the end of 2034. Direct payment of the ITC is only available to tax-exempt entities, such as nonprofit organizations.
How to Make the Most of the Solar Tax Credit in 2024
Net Metering
In compliance with the directive from the West Virginia Public Service Commission, utility companies are required to facilitate cost-saving opportunities for homeowners in West Virginia by providing credits at cost for surplus energy generated by residential solar panels. The procedure for enrolling in net metering can vary depending on the location, so it’s essential to verify the specific steps, although many installers are willing to assist customers with enrolling in net metering programs.
Net Metering: Your Guide to Solar Energy Billing
Solar for All
- The Community Power Coalition (CPC)’s SFA program, “Powering America Together,” will collaborate with and enhance the impact of the US Department of Energy’s National Community Solar Partnership and Community Power Accelerator program. Led by Inclusive Prosperity Capital, Inc., CPC comprises seasoned community solar experts who have contributed to the Community Power Accelerator as developers, lenders, trainers, and technical assistance providers. The program aims to support the development of low-income community solar projects, reduce carbon emissions, lower energy costs, and promote quality jobs, community wealth-building, energy resilience, and equitable workforce development.
- The West Virginia Office of Energy will utilize Solar for All (SFA) funding to deploy residential solar roofs, support home energy efficiency, reduce utility costs for low-income residents, and enhance the energy resilience of West Virginia households. The West Virginia REAL Energy Resilient Roofs Program (WVRRP) will serve low-income and disadvantaged residents across the state by providing residential solar, solar for college residences, and residential-serving community solar. Supported by over a dozen organizations, cities, and community stakeholders, WVRRP aims to deliver significant energy benefits and upgrades to disadvantaged households. The program will attract financing and private capital to create quality jobs, reduce energy burdens, lower greenhouse gas emissions, and save money on electricity bills for the most underserved homeowners in the state.
- Based in Ohio, the Industrial Heartland Solar Coalition brings together 31 communities across eight states, spanning from the Midwest to the rustbelt. Led by Growth Opportunity Partners (Growth Opps), the coalition is committed to propelling a just and clean energy transition in America’s industrial heartland communities. Its Solar for All (SFA) program, centrally managed by Growth Opps, is locally guided and implemented by 18 coalition members. Through our SFA initiative, the coalition aims to deliver energy savings to households, reduce greenhouse gas emissions, and provide training through solar workforce development programs. By leveraging tax credits and SFA grant funds, our coalition seeks to reach low- and moderate-income households, installing residential rooftop solar and more.
- The Clean Energy Fund of Texas (TxCEF), in collaboration with the Bullard Center for Environmental and Climate Justice at Texas Southern University (BCECJ), collectively known as CEFBC, is dedicated to deploying technical assistance, private capital, and grants to minority-serving institutions. Together, these organizations aim to facilitate the establishment of residential-serving community solar projects in low-income and disadvantaged communities that face significant challenges related to energy policy and grid vulnerability. These projects are anticipated to result in emissions reductions, savings on household utility bills, generation of shared revenues through community ownership, and the mobilization of private capital.
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Disclaimer
The information provided herein is for informational purposes only and is accurate as of the time of publication. Please be aware that the solar energy landscape, including technology, regulations, incentives, and market conditions, changes frequently. Therefore, it is essential to consult with qualified experts and professionals before making any decisions regarding solar energy installations or investments. This will ensure that you receive the most current and applicable advice tailored to your specific circumstances.
