Residential Solar Incentives In Washington

GREAT NEWS!:  Washington Has A New Incentive Program Making Solar More Affordable Than Ever Before!

Washington State Production Incentive Program 

After years of hard work, Solar Bill 5939 passed in the early morning hours of July 1st, 2017!  In an effort to promote renewable electricity generation, the State of Washington is purchasing your solar generation.  The new incentive program continues in the spirit of the old incentive program by rewarding you for all the solar energy your system produces, along with excellent paybacks.  It also provides fixes for some of the biggest deficiencies of the old program:
  • An eight-year contract with a fixed rate
  • Greater product selection and superior product eligibility
  • Incentive program security with no reductions during the contract

How It Works

  • An eight-year contract where your utility pays you annually for every unit of energy (kWh) your solar energy systems produces. Your house gets to use all the solar energy too!
  • If your system is installed between July 1st, 2017 - June 30th, 2018, your eight-year contract incentive rates will be $0.16/kWh.
  • If your solar panels are Made-In-Washington, you'll receive an additional $0.05/kWh, for a total of $0.21/kWh.
  • For systems larger than 12kW, the base rate is $0.06/kWh with Made-In-Washington bonus remaining at $0.05/kWh.
  • For ever year delayed in going solar, the contract rates are reduced by $0.02/kWh, and $0.01/kWh for the Made-In-Washington bonus.
  • There is an overall contract payout cap, but for the vast majority of systems, it will not be reached.
  • If your utility participates in the program, it must honor the 8-year contract for the duration of the program, regardless if it stops participating or hits its annual cap.

30% Federal Tax Credit

Solar power is now an even smarter, more affordable investment thanks to the Federal Government!  When you go solar, you can take a tax credit on your next tax filing ñ whether thatís tomorrow or months away -- youíll be entitled to claim a 30% tax credit from the total cost of your solar system.  And if you donít have enough tax liability in the current year to take full advantage of this 30%, you can spread the credit through the succeeding taxable year, thereby ensuring that you receive the maximum benefit possible under this great incentive program!  Tax credit set to decrease beginning in 2020.

Net Metering 

All Solar electricity generated that is not used at time of generation will be fed back to the utility grid, so that your green power can be used by other people.  During these times your utility meter will actually run backwards so that you are credited for this power.  Your utility bill at the end of the month will be the difference between what you generated and consumed.  For those summer months that you generate more than you consume, these credits will be forwarded to you the next month.  So, no matter whether you use the energy or feed it to your neighbors, you'll get paid the 5939 incentives per kWh, on top of this renewable energy credit to your electric bill.

5-Year Accelerated Depreciation for Home Based Businesses

Some home-based businesses can qualify for a full 5-year MACRS accelerated depreciation tax deduction on 85% of the system cost.

Increased Appraised Value of Your Property

Adding a solar energy system to your home adds to the resale value of your home and makes it more attractive to prospective buyers.  Interested in saving money and helping the environment?  Contact us to take advantage of these great cost saving solar incentives.  Going solar makes cents!

Looking to Finance Solar?

Visit our Solar Financing & Leasing Page.