Solar Savings Calculator for Richmond, VA
Homeowners in Richmond pay an average of $152/month for electricity through Dominion Energy Virginia. With 4.5 peak sun hours per day, solar panels can significantly reduce your energy costs.
$152
Avg Monthly Bill
14.5¢/kWh
Electricity Rate
4.5h/day
Peak Sun Hours
$47,843
Est. 25-Year Savings
Calculate Your Savings in Richmond
Adjust Your Details for Richmond, VA
$
$50$1,000
50010,000
5¢50¢
Your Estimated Solar Savings
System Size
8 kW
Panel Count
20 panels
Total System Cost
$22,400
Federal Tax Credit (30%)
-$6,720
Net Cost
$15,680
Annual Savings
$1,824
Payback Period
8.6 years
25-Year Savings
$47,843
Return on Investment
305%
* Estimates based on 4.5 peak sun hours/day in Richmond, VA, system cost of $2.8/watt, 30% federal ITC, 3% annual electricity inflation, and 0.5% annual panel degradation over 25 years. Actual results may vary.
Local Solar Details for Richmond
Utility & Permits
- Utility Company
- Dominion Energy Virginia
- Permit Cost
- $350
- Permit Timeline
- 2-4 weeks
- Net Metering
- full
System Estimates
- Recommended Size
- 8 kW
- Panel Count
- 20 panels
- Gross Cost
- $22,400
- Net Cost (after credits)
- $15,680
Available Incentives for Richmond, VA
Federal Solar Investment Tax Credit (ITC)
Reduces federal income tax liability by 30% of the total cost of a solar energy system, including equipment and installation.
Virginia SREC Program
SRECs earned through the Virginia Clean Economy Act renewable portfolio standard.
Other Cities in Virginia
More Solar Tools for Richmond
Richmond Solar IncentivesAll available tax credits and rebatesRichmond Cost ComparisonSolar vs. grid costs over 25 yearsRichmond System SizingHow many panels your home needsRichmond Permits & RegulationsLocal permit requirementsIs Solar Worth It in Richmond?Data-driven analysis for your cityRichmond Financing OptionsCompare loans, leases, and PPAs
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