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What are the incentives for solar electricity in Washington?

What are the incentives for solar electricity in Washington? Photovoltaic PV financial incentives

The state of Washington currently has a production based incentive program for solar electricity. This means that grid tied Washington residents with solar electric earn a certain price per kilowatt-hour (kWh) of production starting at a base rate of $0.15 per kWh.

This base amount is then subjected to a multiplier depending on if the system is installed with an inverter and/or panels manufactured within the state of Washington.

       2.4 - for panel modules

       1.2 - for inverter

These multipliers can raise the price up to $0.54 per kWh up to $5000 max per year.

Washington residents can also take advantage of the Federal Tax Credit. This tax credit is 30% of the total cost of the system to the consumer. For more information on the Federal Tax Credit for PV >>click here

 

Here are some incentive examples courtesy of Chance Currington and Sunlight Solar :

 

System Size

       
Number of Panels  

 10

 

 

14 

Watts per Panel  

 200

 

 200

Wattage of Array  

 2000

 

 2,800

kW Rating  

 2.0

 

 2.8

         

Installed Amount

       
Average Cost ($/watt)  

 $6.75

 

 $6.75

Installed Project Amount  

 $13,500

 

 $18,900

Estimated Annual Power Production (kWh)  

 2,160

 

 3,024

         

Federal Tax Credit

       
30% of total system cost  

 ($4,050)

 

 ($5,670)

System Cost after Federal Tax Credit  

   $9,450

 

 $13,230

         
WASHINGTON  PRODUCTION INCENTIVE        

Paid annually at $.54 per kWh     
*Paid annually until June 30th, 2020

 

 $1,166.40

 

 $1,632.96

Total Payment over 10 years 
($5000 max annually)
 

 $11,664

 

 $16,330

         
ENERGY SAVINGS        

Annual Electricity Prod. (kWh)
*based on National Renewable Energy Laboratory PV Watts Calculator

 

 2,160

 

 3,024

Assumed Electricity Cost ($/kWh)  

 $0.07

 

 $0.07

Estimated Annual Energy Savings  

 $151

 

 $218

Total Savings over 10 years of electricity production  

 $1,512

 

 $2,177

         
SYSTEM BREAK-EVEN POINT IN YEARS  

 7.17

 

 7.15

 
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