In 2005, the state of Washington passed production incentive legislation for individuals, businesses and local governments that produce solar power, wind power or electricity from anaerobic digesters.
The base rates for these incentives start at $0.15 per kilowatt-hour (kWh) and are adjusted by multipliers, as follows;
- Multiplier of 2.4 for solar systems built using solar modules made in Washington
- Multiplier of 1.2 for solar systems equipped with an inverter made in Washington
This resulted in solar production incentives ranging from $0.15 to $0.54 per kWh, with incentives capped at $5,000 per year. Ownership of renewable energy credits (RECs) remains with the customer-generator. As of May 2009, community solar projects up to 75 kW are also eligible for the incentive.
Is Solar Electricity Really Cost-effective?
Your solar electric system will cost you less than the rates you are currently paying and will supply you with your required electricity. A solar electric system is a low-risk, high-return investment.
Solora Solar can look at your specific situation and calculate exactly what your return on investment will be and how much you will save over the life of the system.
Return on Investment
A ~5kW Washington Made Residential PV System can:
- Pay off in
- Save more than $50K for an average home in Central Washington
- Earn a 30% federal tax credit of total system cost & receive up to $5000 each year (WA state energy production incentives)
- No property tax and 100% sales tax exemption up to 10kW
- 100% Bonus depreciation for commercial installation in 2011
Solar increases your home value too! For every $1 you save on energy costs the first year, your home’s value increases by $20! Reduce your annual energy bill and add $10,000 to your home’s value.
Reduce 216K CO2 emission pounds over 30 years and help to SECURE your energy FUTURE and protect environment one home at a time.
Time is the essence!
Demand for Washington made modules and inverters that qualify for $0.54/kWh energy production incentive exceeds supply and the waiting list is growing.
Annual production credits end June 2020.
100% bonus depreciation for commercial solar electric systems will reduce to 50% in 2012.
Enrollment opportunities for incentives may close as quotas are met.
Utility bills continue to grow, on average >5% each year.
Find more information on Washington’s incentives for the central Washington installation area, please contact Solora Solar.