It’s Time To Go Solar in Washington
If you are a homeowner anywhere in Washington state, you are sitting on an untapped goldmine of opportunity. You’ll be happy to hear that Washington has some of the best incentives available in the country for homeowners looking to add a solar energy system to their home. There are still federal incentives, utility incentives, and a statewide manufacturing incentive.
Washington Solar Incentives
The most attractive incentive in Washington state is the Renewable Energy System Cost Recovery Incentive Payment Program (RECR), a program specific to the state of Washington. This is a performance payment made to eligible clients that install solar. The RECR program is voluntary and participation is up to individual utilities. If your utility does participate then your performance payments will be paid out by the utility. Incentives are available for all solar panels and inverters.
However, panels and/or inverters manufactured in the state of Washington receive additional incentives. The incentive is broken down below.
How the rebate is calculated for your solar system:
- The solar module that is made in WA state – $0.36/kWh
- The solar inverter that is made in WA state – $0.18/kWh
- Both solar modules and inverters that are made in state – $0.54/kWh
If you would like to learn more about the Washington State Incentive, please give Solar.com a call at (888) 454-9979, we can tell you if your utility participates in the program, and what equipment qualifies as “Made in WA”.
The performance payment is based on the total electricity produced by your system from July 1 to June 30 of each year. The actual payment is made based on the actual production of your system in kilo-watt hours (kWh) generated and the limit is $5,000 per year for any individual.
The RECR program expires on June 30, 2020. No performance payments will be made for electricity produced after that date.
Let’s look at a few examples where a solar energy system produces 5,000 kWh, 8,000 kWh, and 12,000 kWh in the first year, and the solar panels and inverter are made in Washington:
- 5,000 kWh x $0.54 = $2,700
- 8,000 kWh x $0.54 = $4,320
- 12,000 kWh x $0.54 = $5,000
The Federal ITC is available to homeowners with federal tax liability, who install a solar system. This credit equals 30% of the gross system cost of your system. For example, if your system has a gross system cost of $20,000, you will receive a $6,000 federal tax credit.
Make sure to check with your tax advisor or CPA for eligibility!
There is also a utility rebate available for any homeowners that live in Snohomish County and receive their electricity from the Snohomish PUD. If you own the system you will receive $300 per DC kW installed, with a cap of $2,000.
For example, if you install a 5 kW system you receive $1,500. If you install an 8 kW system you will receive $2,000 from the utility. You’ll need to have your project submitted to the utility by June 30th, 2017 to be considered for this cash incentive!
If you’re considering solar in Washington check in with Solar.com. We go through the utmost care to design your system and help you find the best bids for your home with vetted local and regional installers. We will also ensure that you receive all the incentives that are possible in your area.
This includes performance payments, utility rebate, etc. See how much you can save with Solar.com, here!