Washington Incentives
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Washington State Solar Power
Washington is thought to be a rainy, gray, dismal state. But did you know that Eastern and Central Washington reliably get more than 200 days of sun every year? Don’t let Washington’s bad reputation for weather get the best of you. With some of the country’s most exciting financial incentives, Washington State is prime for solar power investment both on residential and commercial levels.
In 2013, Washington installed almost 10 MW of solar electric capacity, investing more than $40 million in utility, business, and home installations. That added to the already existing 30 MW of solar capacity places Washington State 25th highest installed solar capacity in the nation. Not too bad for a state where the sun supposedly doesn’t shine. Consider as well that the price of the average solar installation for residential or commercial systems has dropped at more than twice the speed of the national average, and by almost 40% since 2010.
Local Tax Incentives
Washington State has a variety of local and regional tax incentives that take the financial edge off of installing a new alternative energy system such as solar panels wa. The state Building Code Council has streamlined the installation process by approving the ability of homeowners to install rooftop systems without requiring an engineer’s approval first. What’s more, there is no sales tax on the purchase of solar electric or solar hot water systems smaller than 10kW.
Loan programs are available from the City of Seattle as well as various utilities including Clallam County PUD, Clark Public Utilities, Grand County PUD, Grays Harbor, PUD, Okanogan PUD, and several others. It is a great way to start saving if you own solar panels Seattle for example. The Evergreen Sustainable Development Standard for Affordable Housing provides funding for low-income residential projects investing in energy efficient and renewable technologies. Utility rebates ranging up to $500/kW-DC are available from almost every utility in the state, including Seattle City Light, Snohomish County PUD, Tacoma Power, Puget Sound Energy, NW Natural Gas, Pacific Power, and many others.
Federal Tax Incentives
Federal tax incentives are also making the investment in solar panel installation Washington state more attractive. The Energy Policy Act of 2005 provides a 30% investment tax credit (or ITC) on the installation and use of solar technologies such as photovoltaic, solar heating and cooling, and solar panels Washington. While initially this tax credit was written to give a boost the solar economy in 2005, as of 2008, the credit has been extended through 2016 to encourage further residential and commercial investment in renewable energy sources.
Filing for the 30% tax credit is easy, requiring only one additional form (IRS form 5695) to be completed along with your yearly tax return. If your system generates more credit than what you owe in your yearly income tax, the credits roll over to next year’s return.
Help For All Washington Residents
If you are looking for the best in solar sales and installation in Washington State, turn to 123SolarPower for industry-leading, reliable service. Our solar installers of Washington will provide you with custom tailored energy solutions that fit your budget and needs. For a free, no-obligation estimate and a complete overview of the energy and financial savings available to you in Washington State, just fill out the form above to get free quote from a local solar expert or call us at 800-294-2397.
