INCENTIVES

WA State has some of the best incentives in the country for solar! Right now, the state incentives and federal incentives will cover 70%-80% of residential installs. Whether you are looking for a smart personal investment, a way to improve the environment, or want to claim energy independence to protect yourself against rising utility rates – solar is the perfect answer.

30% FEDERAL TAX CREDIT

The federal government offers a tax credit (not a deduction) for 30% of the total installation cost. If you do not have the tax liability in one year to take advantage of this credit, you can roll it over for multiple years to take full advantage of the credit.

WA STATE PRODUCTION INCENTIVE

WA state will pay you for every kWh produced, even if you use the energy in your own home or building. The rate depends on which fiscal year the system is placed into service and that set rate will be paid for 8 years. Customers will receive a bonus amount per kWh if they elect to install panels that are manufactured in Washington. For residential systems, this incentive will cover 40%-50% of the total cost. Commercial systems can receive up to $25,000 per year.

NET-METERING + LOCAL GREEN POWER SOURCE

The utility meter will continue to spin forwards any time you are using electricity from the grid, but if your system produces more energy than can be used in that moment, the meter will actually spin backwards! The utility will only bill for the net amount on the meter at the end of the month. These savings are separate from the WA Production Incentive.

MACRS ACCELERATED DEPRECIATION FOR BUSINESSES

Commercial installations qualify for an accelerated depreciation schedule. Businesses can depreciate the full cost of the installation over 5 years.

There are multiple studies that show a direct correlation between adding solar to your home and an increase in home value. Most notable studies (PVvalue.com and Home Appraisal Journal) show an immediate increase in home value of $10,000 to $15,000 for the average residential solar installation. Home value increase will depend on the number of solar panels installed; more solar means greater increase in value. Whether you plan to stay in your home long-term or you sell in the future, increasing your home value is always a smart choice. Furthermore, research sponsored by US Department of Energy shows solar homes sell faster than non solar homes.

Solar is a long-term power solution that will save you on your electricity consumption from day one. You own the power source, which means you not only no longer purchase that power, but you also will never pay a rate increase on the power that your solar panels provide. Most solar installations offset at least 30%-50% of a home’s energy demand, with many of SolTerra’s clients reaching 80%-100% offset! With a life expectancy of 30 years, our customers will save a substantial amount on power over the life of the system.