Home / Residential / Solar / Paying for Solar

Solar for Any Budget: Find the Perfect Financing Option

Dominion Energy Solutions provides you with options when it comes to paying for solar. From paying upfront to loans to tax credits, you’ll get all the information you need to make a smart decision.

Two Popular Payment Options

Solar Loan

Finance your solar panels and start saving on your power bill today.

No upfront cost, and you own your system
Low interest rates
Low monthly payment, no surprise bills
Significant long-term savings
10- and 25-year options
No pre-payment penalties if you pay off your loan early
Ability to add batteries and EV chargers to loan
30% tax incentive from the federal government

Paying In-Full

Purchase your solar panels with cash or check
to take control of your energy costs.

Own your system with no ongoing costs
Higher long-term savings
No monthly payment, only pay your remaining power bill
Pay 50% upfront and the remaining 50% after installation
Break-even on your investment in as little as 11 years
30% tax incentive from the federal government

Three Ways to Save Big

Federal Solar Investment
Tax Credit

The federal solar investment tax credit (ITC) will save you a huge amount of money on your solar installation. The ITC allows homeowners to deduct 30% of the cost of installing a solar energy system from their taxes. There is no cap on the credit, and the credit rolls over as long as the ITC is in effect. That means you don’t have to have enough tax liability to use it all in one year.

Net Energy Metering in Virginia

Sometimes your panels will produce more energy than your home needs, and these extra kilowatt-hours of electricity will be sent back to the local grid. In Virginia, you get credits on your personal electric bill for all that energy you are sending back. It’s called net metering — each kilowatt-hour sent to the grid is worth one kilowatt-hour taken from the grid. So on days when you need more electricity than your solar panels are producing, you can use your net metering credits to make up the difference and minimize any additional cost for energy. And in months that your panels overproduce, you can save that energy for a rainy day and pay only a small basic customer fee. This way, everyone is rewarded for using less electricity, and no extra clean energy goes to waste!

Additional Solar Rebates

Some manufacturers offer their own solar equipment rebates, and some counties provide additional tax incentives for their residents. Your Energy Advisor can help you find any additional rebates you may be eligible for during the purchase process.

Why don’t we offer leasing?

There are no options to lease solar in the state of Virginia, but our financing option is a great alternative. You own the system and all the hardware with no upfront costs, and if you ever sell your home, you won’t have to worry about the purchaser being approved for the lease of your solar system. You will be able to pay off any remaining balance on your panels with proceeds from your home sale, or you can transfer the loan to the new homebuyer. Remember, solar panels have been proven to increase the value of a home by as much as $15,000!