Governor Youngkin Signs Energy Generation Property Tax Exemption Into Law, Strengthening Energy Freedom in Virginia
RICHMOND, VA — Virginia Governor Glenn Youngkin signed a bill into law today which creates a property tax exemption for residential and mixed-use solar energy systems up to 25 kilowatts in size. This new law expands energy freedom for consumers and creates an additional incentive to do business in the Commonwealth.
Following is a statement by Will Giese, southeast regional director for the Solar Energy Industries Association:
“With his signature today, Governor Youngkin has significantly strengthened customer energy choice in Virginia with a business-friendly approach to promoting the local clean economy. This new law empowers millions of Virginians to choose the energy that works for them, while increasing the value of their homes and creating certainty to attract new businesses and jobs.
“The solar industry employs over 4,000 Virginians and has helped tens of thousands of state residents lower their electricity bills by going solar. Virginia now has a home-generation tax policy that is competitive with other southern states, and companies are ready to continue growing the local economy and lowering energy costs for people across the Commonwealth. Looking ahead, SEIA will continue to be a steadfast advocate for an open and competitive solar and storage market in Virginia.”
Courtesy of SEIA
Related story: Solar Tax Credit – Here’s Your Guide To Collect!
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