Solar Panel Rebates & Tax Incentives

Solar Panel Rebates & Tax Incentives

solar panel rebates and tax incentives/credits in Vancouver WA by GreenLight Solar & Roofing panel contractorsWashington and Oregon have some of the best rebates in the country and switching over to solar power has never been more affordable. Contact GreenLight Solar & Roofing today to see what rebates you may qualify for.

Federal Solar Tax Credit (FTC)

The FTC is a 30% tax credit that you can claim on your taxes the year the solar system was purchased and installed. You can claim up to 30% of the entire project cost the first year including the cost of replacing your roof, if you don’t use it all the first year you can carry over your tax credit for up to 5 years. This tax credit applies to both residential and commercial properties.

Washington State Solar Productions Incentive

The State of Washington currently pays up to $.18 per kWh for the solar energy that is produced at a home or business. You can earn up to 50% of the cost covered by your utility over the next eight years. Your utility company sends you a check for the power produced by your solar panels from July 1st through June 30th every year. The incentive goes down every year until it expires on June 30th, 2021, so if you have ever thought about switching over to solar power now’s the time before the rebates run out.

Fiscal Year Ends Base Rate:
Residential or
Community Solar
(per KWH)
Base Rate:
Commercial or
Shared Commercial
Solar (per KWH)
Bonus for Modules
(solar panels) Made
in WA
6-30-2018 $.16 $.06 $.05
6-30-2019 $.14 $.04 $.04
6-30-2020 $.12 $.02 $.03
6-30-2021 $.10 $.02 $.02

Washington State Community Solar Incentive

A community solar installation is a system not larger than 1 MW that is shared by many owners who purchase shares and share in the benefits of solar. Community Solar allows for participation by people who do not have good solar sites or who want a lower cost to participate. Community Solar projects must be created by utilities, non-profits or other local housing authorities. The same maximum of $5000/year for 8 years until 50% of total cost is earned back as with residential systems. Not more than 50% of a utility’s available pool of
funds can go towards Community Solar participants.

Oregon Energy Trust Incentive

The Oregon Energy Trust provides homeowners and businesses cash incentives based on the size of your solar array and your utility company. These cash incentives apply directly to the cost of the solar system and are reimbursed to the Energy Trust Trade Ally after the job is completed. Contact us today to see what incentives you may qualify for.

Modified Accelerated Cost Recovery System (MACRS)

Under the federal Modified Accelerated Cost Recovery System, businesses may recover their investment is solar through depreciation deductions. Both solar PV and solar thermal qualify for these deductions. Systems placed in service before January 1, 2019 can qualify for 100% bonus depreciation.

United States Department of Agriculture (REAP Grant)

Through the Renewable Energy for America Power Program rural small businesses such as farms, vineyards and agricultural producers are eligible to receive up to $20,000 in grant money from the Department of Agriculture. The funds can be used for projects including solar PV, solar hot water, insulation and LED lighting upgrades. For a full overview of the program please visit United States Department of Agriculture.

For a full overview of all Washington and Oregon State solar incentives please visit dsireusa.org

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Solar Energy Contractors in OR and WA

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