VA HB1422

Creates a nonrefundable individual income tax credit of 15% for the purchase of solar energy equipment and associated expenses including permitting fees, inspection fees, and installation costs

Limits the credit to a maximum of $1,000 per taxpayer and applies only to equipment intended for personal use

Establishes the credit for taxable years beginning January 1, 2026 through December 31, 2030

Caps the total program at $5 million per taxable year, with credits allocated on a pro rata basis if demand exceeds the cap

Allows unused credit amounts to be carried forward for up to five taxable years