Renewable Energy Incentives for Washington State
Federal Renewable Energy Investment Tax Credit
(P.L. 110-343; IR Code 25 D)
- This bill extends the 30% Federal Income Tax Credit for residential and commercial renewable energy projects through 2016.
- Removes the maximum payment limit for the tax credit.
- Allows commercial instillations an excelerated 5-year depreciation schedule.
- Includes Solar PV, Solar Hot Water and Small Wind Energy Systems. (< 100KW)
- Tax Credits can be carried over to successive years, and apply to AMT Liabilities.
Washington State SB 6170; effective though 2020
Section 400 - Sales Tax Exemption
- Extends the Sales Tax Exemption for renewable energy systems through 2012 for Solar PV only through June of 2013.
- Minimum system size is 1kw and maximum is 10kw.
Section 500
Production Incentive Payments for residential customers:
- Base rate for Solar PV Systems is $.15 per kilowatt hour.
- Base rate + $.21 ($.36 total per kilowatt hour) for Washington State made PV Panels and standard inverter.
- Base rate + $.39 ($.54 total per kilowatt hour) for Washington State made PV Panels and Washington State made Inverter.
- Base rate for Wind Energy systems is $.12 per kilowatt hour.
- This rate can be increased by purchasing components made in Washington State.
- Maximum annual payment increased to $5000
Section 505 - Community Solar Projects
Including Condominium and Homeowners Associations
- Production incentive payments for Solar PV Systems is $.30 per KWh.
- Maximum annual payment for community solar projects is $5000 per participating member.
