Washington Home Solar Incentives & Rebates
Washington Home Solar Incentives
With today’s Washington state solar incentives, the federal solar investment tax credit (ITC), and the new solar production incentive, you can cover 80% of the upfront costs associated with a brand new solar panel system.
Find out more about solar power incentives in Washington state below. And if you can’t get your question answered, feel free to contact us for free local advice.
Washington State Solar Production Incentive
With this unique Washington solar incentive, you will get paid cash for the solar power you generate from the solar panels on your home. It pays cash to homeowners that qualify up to $0.21 per kilowatt-hour (kWh) for all the solar power they generate each year for 8 years. On average, customers get paid $2,100 from their local utilities to produce clean, renewable solar energy.
To receive maximum cash rebates, you must use solar panels from a Washington state solar panel manufacturer. All panels made outside Washington state will receive also be eligible to earn cash to produce solar but at a lower rate. Currently, that rate is $0.16 per kilowatt-hour or about $1,600 on average per year (see Production Rate by Year).
Example of Production Cash Incentive
You generate 10,000 kilowatt-hours of solar power.
Multiple 10,000 by $0.21
You will earn $2,100 for the 1,0000 kilowatt-hours your generated
Payments made through this program are made in addition to the free solar electricity you receive throughout the year, making this incentive one of the most generous in the nation. However, regardless of when you choose to go solar, please be aware that the cash-incentive steps down each year. Next year, the solar incentive will decrease to $0.19 per kilowatt-hour and 2 more cents after that each year until the program ends in 2021.
Considering solar today? Combine this incentive with the federal investment tax credit and monthly energy savings solar power for your home is a smart choice.
Get started with a free 15-minute consultation with one of our local solar experts. Sign up, today!
Federal Solar Tax Credit
The federal investment tax credit (ITC) was created to increase the development of solar power in our everyday use. This federal solar tax credit will directly credit your federal taxes, wiping out any tax liability that you have on a dollar-to-dollar basis. It is a credit to your tax return worth 30% of the total cost of a brand new solar panel system.
For example, when the final cost to install solar panels is $10,000, you will receive $3,000 back in federal tax credits.
Don’t have the tax appetite? Save the credits for another year. The credits can be used within 5 years from the date of installation.
Have questions? Contact one of our local solar experts to free advice.
Net Metering Your Solar Production
Net Energy Metering is how your utility compensates homeowners with solar panels for providing clean, solar energy to your neighbors. Your utility must keep a “running tab” on how much solar energy you generate and subtract it from your monthly energy bills. Each credit is worth equal the market rate which is the price you pay for electricity. This means that you can bank up energy credits that you create in the summer, then use it in the winter when the sun isn’t shining so much.
For example, your home generates 10,000 kilowatt-hours of solar power for the year while it consumes 6,500 kilowatt-hours of energy. Therefore, you gain or net 3,500 energy credits or saving about $280 in annual savings.
All permits, incentive paperwork, and utility and city inspections are all managed by Sunbridge Solar.