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Solar vs. grid power: how much can you save?
Electricity rates are on the rise. The U.S Energy Information Administration (EIA) estimates that electricity prices in the U.S. rose 6.2% in 2023 alone.
Homeowners across the country are looking for ways to reduce their energy costs and many are turning to solar energy. But just how much can you save with solar and is it worth the investment?
Solar customers can often save tens of thousands of dollars over the lifespan of their solar system. To determine exactly how much you can save, you’ll have to do a little math.
Compare your current cost per kW from Virginia Electric & Power Co with the cost per kW of your solar system. Then calculate your monthly or yearly expenses across a 25-year period. Finally, subtract your total cost of energy with solar from your total of energy from the grid to determine your savings
A simpler way to estimate your savings potential is to compare your current monthly energy costs with your projected solar payments. If your energy costs are higher than your solar payments, there is a good chance you will see savings.
At Solar Cost Calculator, we suggest that anybody paying more than $100 a month for electricity should consider solar.
What solar incentives Virginia Electric & Power Co does offer?
Category : Financial Incentive
Website : https://www.dominionenergy.com/virginia/save-energy/ev-charger-rewards
Applicable Sectors : Residential
Incentive Amount : $40 per year for continued participation in EV Charging Rewards Program.
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.dominionenergy.com/virginia/save-energy
Applicable Sectors : Residential, Multifamily Residential, Low Income Residential
Incentive Amount : Smart Thermostat: $30 Refrigerator: $50 Freezer: $50 Clothes Washer: $50 Electric Clothes Dryer: $100 Dehumidifier: $25 Room Air Purifier: $50 Dishwasher: $50 Appliance recycling: $20
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.dominionenergy.com/virginia/save-energy
Applicable Sectors : Commercial, Construction, Industrial, Local Government, Nonprofit, Schools, Federal Government, Institutional
Incentive Amount : Compressed Air Compressed Air Rebates: up to $0.07 per kWh Savings Heating and Cooling Packaged Terminal Air Conditioners: $37/ton Packaged Terminal Heat Pumps: $37/ton Unitary Air Cooled Air Conditioners: $45/ton Unitary Air Cooled Heat Pumps: $45/ton Water Cooled Chillers: $41 - $62/ton Air Cooled Chillers: $52/ton Geothermal Heat Pumps: $42/ton Variable Frequency Drives: $56 per hp HVAC Economizers: $98 - $156 per unit Mini Split Air Conditioners: $60 - $150/ton Mini Split Heat Pumps: $60 - $150/ton Variable Refrigerant Flows: $60 - $80/ton Water Source Air Conditioners: $80/ton Water Source Heat Pumps: $80/ton Kitchen and Refrigeration Measures Incentives vary widely by type. See program catalogue for full details Lighting Measures Incentives vary widely by type. See program catalogue for full details
Implementing Sector : Utility
Installing and connecting your solar system
When you install a solar system in Virginia Electric & Power Co territory, these are steps you can expect to go through:
Once you’ve hired a contractor, you will need to communicate with Virginia Electric & Power Co to prepare the interconnection paper. Your contractor will handle most of these responsibilities
After the interconnection agreement has been finalized, your contractor can begin the installation process.
Once your system is installed, it needs to be inspected for safety and code compliance.
After the final inspection, you will receive a written notice within a few days that your system is approved to operate. You can turn on the system yourself or you can contact your installer for further assistance.
Most homeowners prefer to do it themselves. The whole process should only take 10 - 15 minutes.
Is solar worth it for Virginia Electric & Power Co customers?
The short and sweet answer is a resounding YES. Going solar is definitely worth it for Virginia Electric & Power Co customers. The average homeowner in _UtilityCompanyName_ can save an estimated #### over the lifespan of their solar system.
Going solar is a long game so you need to think several years ahead. It can take a few years to hit your break even period. But between net metering and solar incentives, you can drastically reduce that timeframe.
Want to get an idea for what it will cost you to go solar with Virginia Electric & Power Co? You can use our Solar Cost Calculator to generate a customized estimate instantly. We take into consideration a wide range of criteria including location, electric bill, roof size, and other factors. Try it out today and start planning for your future.
