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 2020.
- Removes the maximum payment limit for the tax credit.
- Allows commercial installations an accelerated 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 5882; effective though 2018
Section 400 – Sales Tax Exemption
- Extends the 100% Sales Tax Exemption for renewable energy systems through 2018 for Solar PV and Wind Energy Systems.
- Minimum system size is 1kw and maximum is 10kw. Systems over 10KW have to pay sales tax, but can apply for a 75% refund from the state.
- Section 500 – Production Incentive Payments for residential customers:
- Base rate for Solar PV Systems is $.15 per kilowatt hour.
- Base rate for Wind Energy systems is $.12 per kilowatt hour.
- This solar rate can be increased by purchasing components made in Washington State:
- $.36 per kilowatt hour for systems using Washington Made panels and standard inverter
- $.54 per kilowatt hour for systems using both Washington Made Panels and Inverter System
- Maximum annual payment increased to $5000
Washington State SB 5136
- Homeowner’s Associations may not deny your request to install solar panels on your home!
- Snohomish County PUD Solar Express Program!!
- $300 per rated KW for Solar PV Systems, up to $2000 for residential installations
- $500 per installation for Solar Hot Water Systems
- For full details, visit their web site at www.snopud.com