Governor Youngkin Signs Energy Generation Property Tax Exemption Into Law, Strengthening Energy Freedom in Virginia
Tuesday, Apr 12 2022
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.”
The Solar Energy Industries Association® (SEIA) is leading the transformation to a clean energy economy, creating the framework for solar to achieve 30% of U.S. electricity generation by 2030. SEIA works with its 1,000 member companies and other strategic partners to fight for policies that create jobs in every community and shape fair market rules that promote competition and the growth of reliable, low-cost solar power. Founded in 1974, SEIA is the national trade association for the solar and solar + storage industries, building a comprehensive vision for the Solar+ Decade through research, education and advocacy. Visit SEIA online at www.seia.org and follow @SEIA on Twitter, LinkedIn and Instagram.
Morgan Lyons, SEIA's Director of Communications, [email protected] (202) 556-2872