Federal Incentives
- Tax Credit
A taxpayer may claim a credit of 30% of qualified expenditures for a wind electric system that serves a dwelling unit located in the U.S. used as a residence by the taxpayer.
- Renewable Energy Grants
A new program through the Department of Treasury that provides grants equal to 30 percent of the cost of solar or wind property placed in service during 2009 and 2010, in lieu of the investment tax credit. Property that is not placed in service prior to December 31, 2010 qualifies for the grant program as long as construction begins prior to December 31, 2010 and is placed in service by January 1, 2017.
- USDA- Rural Energy For America Program (REAP)
Rural Development makes loan guarantees, and grants to farmers and ranchers (agricultural producers) or rural small businesses to purchase renewable energy systems and make energy efficiency improvements. The Farm Security and Rural Investment Act of 2002 (2002 Act) established the Renewable Energy Systems and Energy Efficiency Improvements Program under Title IX, Section 9006. This program will help farmers, ranchers, and rural small businesses to reduce energy costs and consumption. Link: Click Here
The Rural Development Guaranteed Programs offers:
- Loan guarantees up to 85%, guaranteed portion; and up to 50% of total eligible project costs.
- Loan amounts are a minimum of $5,000 and a maximum $10 million and can be combined with a 25% energy grant.
- Loan terms are 20 yrs or useful life.
See www.dsireusa.org for more information on the Residential Renewable Energy Tax Credit, Renewable Energy Grants, and USDA programs.
State Incentives Washington State has two incentive programs for consumers and businesses who install renewable energy. The first includes photovoltaics, wind, anaerobic digestion and solar thermal electric and must be grid connected. This Incentive is a production incentive for 0.12/kWh to $1.08/kWh through 6-30-2020 depending upon the project type, technology and where the equipment was manufactured. The second incentive is a 100% exemption from Washington State Sales Tax for several technologies to include wind and solar and expires 6-30-13. For more information, Click Here.
County Incentives Some Washington counties have progressive programs for encouraging the installation of renewable energy. Here are a few listed on the DSIRE website:
- Clallam county PUD: Residential and Small business solar & Efficiency Loan Program for photovoltaics, solar water heat, solar package/system equipment. Loan amounts $1000 to $15000. Click Here.
- Franklin County PUD: Solar Energy System Loan. Covers solar water heat and photovoltaics for residential and multi family residential. Loans are 3% APR, up to $7000 for single family and $10,000 for multi-family residence. Click Here.
- Klickitat PUD: Solar PV Loan Program. For photovoltaics, residential only, 4.9% fixed APR maximum loan $10,000 over seven years. Click Here
- Port Angeles Public Works & Utilities: Solar Energy and Energy Efficiency Loan Program. For Solar water heat, photovoltaics and geothermal heat pumps supplied to commercial and residential. Loam amortization is not to exceed 120 months; interest rate is the federal discount rate plus 2%. Click Here.
- Snohomish County PUD No 1: Solar Express Loan Program. For Solar water Heat and photovoltaics on residential sites only. Ten year loans at 2.9% up to $25,000 for PV and $14,000 for SWH. Click Here.
- Snohomish County PUD No 1: Solar Express Rebate Program. For Solar water heat and photovoltaics applicable for commercial, industrial, residential, local government, and multi-family residential. Maximum incentive for residential $2500, and $10,000. Click Here.
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