2020 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, you can recover 26 percent of the cost of your solar panel system through your taxes. This tax credit steps down to 22 percent in January. If you don’t pay enough to recover it all in one year, it carries over into the next year – and there’s no cap on the amount that you can claim. That’s what we call a great incentive.
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. That 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.
No Sales Tax on Solar in Washington
Washington state currently has no sales tax on residential solar systems. Commercial systems under 100kW have 50% 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.