Solar Incentives
They vary from state to state and soon Washington will have more, but we will have to wait until the new year.
Currently here are the incentives, both Federal and Washington.
Federal:
30% tax credit for system brought on line in 2008, with a cap of $2,000 for homes and no cap for businesses.* Teh credit may be used on solar hot water systems as well as Photo-Voltaic (PV). You can get $2,000 back from the federal government for a PV system AND $2,000 for a hot water system. The credits may be extended. Make sure to encourage your state representatives.
*This is a great option for home run businesses!
State:
A great resource for the most current information is www.northwestsolarcenter.org.
Current incentives as of this posting are:
Net Metering requires the utilities to allow you to hook up to their grid (a requirement to get $ back) with your solar or wind power system. Your meter can turn backwards up to the amount of electricity that you use on an annual basis. The summer credit can be used in the dark winter months. Everytime rates go up, so does the value of your PV system and its electricty.
Sales Tax Exemption for PV equipment and its installation until 2011. Solar Hot Water Systems are also exempt.
There are also Production Incentive Payments which increase when thge equipment for your systems is made in Washington. Nete Metering currently gets you $.15/kWh for every kWh your grid-tied system produces until July 2014. While this is voluntary most utilities are onboard. The money they pay back comes of teh state utility tax, so for them they either pay the state or the customer. If you buy an invertor made in Washington your incentive is increased by $.03 to $.18/kWh. If you by PV panels made in Washignton you can add an additional $.35/kWh to the $.18/kWh for a total of $.53/kWh with a yearly cap of $2,000.
There is one catch. There are no UL rated PV panels currently made in Washington. One company I meantioned early, Silcon-Energy will soon be available in Washington.
Also, for those that are part of Snohomish County PUD, you will soon be in luck as new incentives will go in effect in the next year. Stay tuned.
