Virginia Incentives/Policies for Renewables & Efficiency |
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Last DSIRE Review: 05/02/2013
Program Overview:
| State: |
Virginia |
| Incentive Type: |
Industry Recruitment/Support |
| Eligible Renewable/Other Technologies: |
Photovoltaics |
| Applicable Sectors: |
Commercial, Industrial |
| Amount: | Varies |
| Maximum Incentive: | $4.5 million per year |
| Start Date: | 1/1/1996 |
Authority 1:
Date Effective:
Expiration Date:
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Va. Code ยง 45.1-392
1/1/1996
07/01/2013
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Authority 2:
Date Enacted:
Date Effective:
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H.B. 2316
04/06/2011
07/01/2013
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Summary:
Created in 1995 and administered jointly by the Virginia Department of Mines, Minerals and Energy, and the Virginia Economic Development Partnership, the Solar Manufacturing Incentive Grant (SMIG) Program offers up to $4.5 million per year to encourage the production of photovoltaic panels in Virginia. The incentive is paid at a rate of up to $0.75 per watt for panels sold in a calendar year, with a maximum of 6 MW.
New manufacturers that meet certain production and other criteria are eligible to receive annual incentive grants for six years. The amount will be awarded as follows:
- Years 1 and 2 - $0.75/watt
- Years 3 and 4 - $0.50/watt
- Years 5 and 6 - $0.25/watt
In April 2011, H.B. 2316 (S.B. 1360) repealed the SMIG Program and replaced it with the Clean Energy Manufacturing Incentive Grant Program. The SMIG Program will be repealed on July 1, 2013. SMIG grants based on sales made in 2011 cannot exceed $1 million. Any claims above $1 million will be prorated among applicants, as described in the statutes. |
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.
While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.
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