Residential Solar – Incentives
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Now is a great time to be going solar in Washington! A combination of federal, state, and local incentives can knock nearly 40% off your installation cost and generate extra revenue with every kWh you produce. Contact us today and learn more about this exciting opportunity.
Current Residential Solar Incentives:
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No Washington State Sales Tax
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There will be no state sales tax on the entire cost of your installed solar energy system until June 30, 2011. This incentive cuts an instant 8-9% off your install costs.
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30% Federal Tax Credit
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Just like it says, you can get a Federal Income tax credit worth 30% of your total install cost. If you don’t have enough tax liability in the current year to take full advantage of this 30%, you can spread the credit over 20 years.
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Net Metering
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Any electricity your solar power system generates that is not used by your home is fed back into the utility grid and used by other people. Your meter will actually run backwards and you will receive a credit for this power on your next electricity bill. All of the energy credits that you build up during the summer will then be used to pay for your electricity bill during the winter months when you are not producing as much of your own power. Not a single watt, or penny, is wasted.
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Washington State Production Incentives
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In addition to net metering programs, participating utility companies will actually pay you 15 cents/kWh for every kWh you produce, whether you feed it back into the grid or not. The program is legislated to run until July of 2020, and includes payment escalators that can bump your production incentive up to 54 cents/kWh if you install solar inverters and modules manufactured within Washington State. Be sure to ask our sales staff about how to take advantage of this incentive.
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5-Year Accelerated Depreciation for Home Based Businesses
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Home based businesses qualify for a full 5-year MACRS accelerated depreciation tax deduction on the entire cost of the system.
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Local Utility Programs
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Certain utility companies are doing their part to promote solar development as well. We will be sure to fill you in on any programs that you qualify for based on where you live.
Learn More About Incentives... |
