2021 Solar Incentives in Washington
Federal Tax Credit for Solar Panels
If you’re considering going solar, the Federal Investment Tax Credit (ITC) is one of the most important incentives to understand. Thanks to the ITC extension, you can recover 26 percent of the cost of your solar system through your taxes in 2021 and 2022. In 2023, the tax credit will step down to 22 percent. This tax credit ENDS January 1, 2024. If you don’t pay enough to recover it all in one year, it carries over into the next year – there’s no cap on the amount that you can claim.
Net Metering in Washington
Going solar doesn’t mean that you’re not connected to the grid. When you install a solar panel system on your roof in Washington, net metering allows you to send your extra solar electricity back to the grid and receive credits on your electric bill. This way, if your solar panels aren’t producing enough electricity – like if it’s cloudy or at nighttime – you can use your credits instead of having to pay for electricity from your utility. Net metering is calculated on an annual basis, this is why it is important to design a system that closely matches your consumption.
No Sales Tax on Solar in Washington
Washington state currently has no sales tax on residential solar systems. Commercial systems under 100kW have no sales tax.
Zero Down and 3 Months no Payments or Interest
As a member of Puget Sound Cooperative Credit Union's Sustainable solar program, we are happy to offer our clients low rates, starting at 3%. We are currently offering a solar loan promotion with three months no interest or payments.