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Washington state solar energy rebates
Residents who secure that loan through Puget Sound Cooperative Credit Union can include the purchase and installation of a solar energy system in their improvements.
Money in your pocket now!That's good news if you're an environmental-minded person with some equity and a willingness to be in your home for at least 15 years, but it might not be right for everyone.Geographically, and much to casual observers surprise, Washington is a prime candidate for solar.Now, solar panels almost always last longer than 25 years, but that number is the end of typical solar warranties, so we base our estimates on the most match com discounts july 2017 conservative definition of solar panel life.As you can see, there's a big payment (negative) in year 1, which gets slowly reduced over time.The incentive is capped at 5,000 per year.Washingtons state solar incentives are varied, and include measures to help low income residents, as well as tax credits and production-based incentives that can all make the cost of solar equipment and installation a little more affordable.But even though Washington offers some decent solar incentives, the electricity costs here are so low that a 25-year investment in solar will basically break how to get coupon circulars for free even.That's 2,520 that you won't owe this year.They were the second state, following Colorado to pass their Renewable Energy Standard through a ballot initiative.In particular, this state boasts a progressive stance on renewable energy, with legislation thats packed with residential programs, all aimed at mitigating the costs and expenses associated with owning your own solar energy system.As solar becomes more and more popular, many helpful programs may be depleted or restructured entirely.Here's how a solar loan works in Washington: As you can see from the chart above, you'll start out with a big windfall, because with a loan, you're not putting any money down, and you get the 30 federal solar tax credit just like.The electricity bill savings in the first year of operation will total 474, but your loan payments will be 1,779, for a difference of 1,305, or about 109 per month.Okanogan PUD Conservation Loan Program: Homeowners serviced by Okanogan PUD are eligible for a loan to use towards the purchase of solar energy equipment, worth up to 10,000, with a 60 month term.That's not quite the return of a stock market index fund over 25 years, but it's a solid investment if you're looking to save money and the planet at the same time.The state offers what are called "performance payments" for every kilowatt-hour (kWh) your system produces.Rebates are set at a rate of 400 per kilowatt or up to 1,200, while loans provide financing up to 10,000 at.9 interest rate.Residential Renewable Energy Tax Credit returns homeowners who purchase solar equipment 30 percent of the cost of their system, as long as it is large enough to generate enough energy for half the homes energy demand.
The National Renewable Energy Laboratory calculated the solar intensity of all fifty states and found that while the coastal regions of Washington receive just enough sunlight to produce an average 3.0 kilowatt hours of solar power a day, installations located farther south, especially.