Solar investment in the state of Washington will be worthwhile! Property owners can acquire extra savings by generating their power, which will further cut costs on their electricity bills. Added to that are the Washington solar incentives and rebates that are reasonably beneficial in the Evergreen State, which has attracted the growth of Washingtonians to go solar.
Read below to learn how to take advantage of all the Washington solar incentives and benefits of going solar!
Washington State has great net metering laws. The state requires net metering for IOUS or all investor-owned utilities such as the Pacific Power & Light Corporation, Puget Sound Energy, and Avista. A renewable energy system connected to the public utility through net metering allows customers to offset their utility power cost with credits earned from the system. Customers can receive a credit on their electric bill by selling the excess energy produced back to the grid.
Washington State has implemented Interconnection Standards, guidelines for connecting solar and other electricity-generating systems to the grid, allowing them to be "plugged in" seamlessly. These standards facilitate installation, reduce costs, and increase the reliability of net metering.
Luckily, Washington offers Performance-Based Incentives (PBIs), which are Ohio solar incentives based on the actual power your system generates. Washington calls them Solar Power Performance Payments. A renewable-energy system generates actual kilowatt-hours or BTUs, which are confirmed by the meter, and property owners are paid based on that. These payments are in the form of Solar Renewable Energy Credits (SRECs), which fluctuate in value based on supply and demand. SRECs can help your system pay for itself.
Although Washington does not have committed state rebates for the solar energy system, certain companies, such as LG, provide specific solar rebates.
Pay no sales tax on the cost of an installed solar power system in Washington! Property owners who invest in solar panels are exempted from paying sales tax, which is approximately an outright saving of 8% in total.
The exemption covers solar systems that produce up to 100 kilowatts of AC electricity and is offered until December 2029. The usual household can compensate for their total energy usage with 5 kilowatts. Now that's the solar incentives worth the investment!
Currently, Washington has Solar Easements and Rights Laws that support property owners working with their neighbors to ensure accessibility to solar installation and guarantee sufficient sunlight coverage. Moreover, the solar easement and rights laws prohibit the developers from denying or obstructing the property owner's solar energy system.
On top of the great solar incentives, rebates, and exemptions for you living in Washington, you also qualify for the excellent tax credit from the Federal government. If you purchase a solar energy system (using cash or a loan), you can take advantage of the Investment Tax Credit (ITC), which is currently worth 26% of the system cost and can be deducted from your Federal income tax. However, you won't be eligible for the credit if you lease the system. If you lease a system, all incentives go to the third-party owner. That's a great reason to buy rather than lease.
Sustainable energy appeared positively in the Evergreen State. With all the benefits of producing your energy source, going Solar is worth the investment!
We highly recommend consulting a reputable solar company to discover the optimal solutions for going solar!
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