Residential solar has been escalating across much of America especially and due to the current incentives in Virginia, the timing may be right for you to take advantage of the current programs available as well!
At Walls Insurance Agency we always aim to ensure you have the best possible information and coverages for your home and auto insurance so we wanted to “shed some light” (pun intended) on the current solar wave so that you may have some useful information whether you already have solar on your home or if you were considering solar in the near future.
Our agency recently became a proud partner with a local trusted solar team “Xplore Solar.” We met with them recently and asked for helpful tips for those of you that already have solar as well as submitted questions for people that may want to learn more about solar for their homes. Lastly, we wanted to collaborate in our efforts to make sure individuals with solar know they have the optimal insurance coverage for their solar investment.
If you already have solar…
Helpful tips
- File form 5695, this is for the Federal Income Tax Credit which right now is a whopping 30%
- Register for Solar Renewable Energy Credits (SRECs), we recommend you register your system if you have not already so that you can start earning cash back for all the clean energy your system produces.
- Adequate Homeowners Insurance Coverage, be sure you let one of our trained agents review your policy if you have added solar to your home so we can ensure you have the most cost effective and precise coverage you need.
Here are some of the top questions that Ryan and the team at Xplore Solar answered for us in no particular order:
What is going to happen to my roof?
Great question! Part of the process is determining if solar is a good fit for your family and your home; validating if your roof is adequate for solar. We employ a third-party structural engineer to test the wind load, snow load and integrity of the roof to determine if your roof can withstand a new solar system. Also, we warranty and guarantee that all roof penetrations will be watertight.
How much does it cost?
I would say number one on the list is that people think they cannot afford solar. However, if the home and customer qualifies, you end up spending considerably less on powering your home than you would by just purchasing power from your energy provider. With all the available solar incentives available right now in Virginia adding solar improves your cash flow immediately! The beauty of solar is that it is not new money you are spending, you are simply turning a liability into an asset while also moving thousands of dollars towards you rather than out the window in a sense.
Will the system work in the rain or on cloudy days, will it work when the power goes out?
When I first started researching solar myself years ago, I thought if it’s cloudy outside will my light bulbs be dimly lit or will certain appliances not work? I get these questions a lot. The short answer is that your home will work just like it does now with your current power company, as it will with solar. Part of what makes solar so powerful in Virginia right now is that you get to take advantage of full retail Net Metering. The customer is still connected to the power grid, and you want to be because you sell your excess energy back to the power company which enables you to get full credit for the energy you produce which helps your monthly and annual energy independence. At Xplore Solar we recommend just solar without adding costly battery backup options as the pros far outweigh the cons in regard to batteries in Virginia right now.
Here is a helpful video that touches on the three major Solar Incentives available to Virginia Residents:
There’s a lot more we could discuss and if you’d like to schedule your own free solar consultation for your home and have your own questions answered please reach out to Ryan at Xplore Solar at 757-204-1487 or visit www.XploreSolar.com for more information and to have your own custom Energy Savings Report!
As a preferred partner Xplore Solar will also offer any current Walls Insurance Agency customers up to $2000 cash back in addition to the other benefits that solar energy provides!
