| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | Virginia |
| Incentive Type: | Loan Program |
| Web Site: | https://www.virginiaresources.gov/page/programs/ |
| Administrator: | Virginia Resource Authority |
| Eligible Renewable/Other Technologies: | Solar Water Heat, Solar Space Heat, Geothermal Electric, Solar Thermal Electric, Solar Thermal Process Heat, Solar Photovoltaics, Wind (All), Biomass, Geothermal Heat Pumps, Municipal Solid Waste, Combined Heat & Power, Landfill Gas, Wind (Small), Geothermal Direct-Use |
| Eligible Efficiency Technologies: | Custom/Others pending approval, Yes; specific technologies not identified |
| Loan Term: | Varies |
| Name: | Va. Code § 62.1-197 et seq. |
| Date Enacted: | 1984 (subsequently amended) |
The Virginia Resources Authority (VRA) was created in 1984 and provides financial assistance to local governments in Virginia for a variety of projects, including energy and energy conservation projects. In March 2011, H.B. 2389 added "renewable energy" to the list of eligible projects (though it may have already been technically eligible under the "energy" category). VRA offers several financing options, including the Virginia Pooled Financing Program, Revolving Loan Funds, and Term Financing. Interested entities should use the contact form available on the VRA web site in order to discuss financing options with VRA staff.
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A solar PV system is custom-designed for your home. Final solar system price may vary based on your location, monthly utility bill, government incentives and rebates, the condition of your home, and local installation prices. Solar PV system output and estimated savings are calculated based on several factors including product type, system production, geography, weather, shade, electricity use, full utilization of the 30% solar investment tax credit, and utility rate structures and rate increases. Savings on your total electricity costs are not guaranteed. Financing options and terms vary by location, and may not be available in all areas. Solar QC is neither the lender nor the project installer. Solar QC License# 1130591
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