Washington State Solar Incentives & Rebates
30% Federal Solar Investment Tax Credit (ITC)
The federal solar tax credit, or also known as the Investment Tax Credit (ITC), increases the development of solar power in our everyday residential and commercial lives. This tax credit for solar panels reduces your federal tax liability on a dollar-to-dollar basis. There is no upper limit to how much tax credits you can get. It is worth 30% of your final project cost.
How Does The Federal Solar Tax Credit Work?
When you receive your final invoice, you’ll claim 30% of the final cost in federal solar tax credits on the same year's taxes. For example, when the final cost to install solar panels is $10,000, you will receive $3,000 (30%) back in federal tax credits. Don’t have the tax appetite? You may use the credits up to 5 years after the tax year of installation.
Solar Net Energy Metering (NEM)
Net Metering in Washington state is how your utility compensates you for providing clean, renewable solar energy to your neighbors and grid. After you switch on your new solar energy system, your utility will begin to spin your meter backward when you're producing more (solar) energy than how much energy your home is consuming! Each time you send excess power to the grid, the solar energy gets used nearby (by your neighbors) and you accumulate energy credits.
How Does Net Metering Work?
For example, if your solar panel system generates 1,000 kilowatt-hours of solar power in the month of May while you consume 650 kilowatt-hours of energy earning you 350 energy credits. These energy credits get used when you’re not generating more solar power than using (at night, etc).
Get Started With A Free Quote
Let our team help you determine whether solar is the right fit for your today's lifestyle and financial goals. Get started by giving Sunbridge Solar a call at (360) 313-7190 or complete a quick form and we will give you a call instead.