Yes, SALVAGE is a Scrabble word!

Letter values in Scrabble US: S 1, A 1, L 1, V 4, A 1, G 2, E 1.

Is it a valid word?

SALVAGE is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

property or goods saved from damage or destruction
the act of saving goods or property that were in danger of damage or destruction
the act of rescuing a ship or its crew or its cargo from a shipwreck or a fire