In an effort to help people embrace renewable energy, the Federal government is offering a 30% tax incentive on the full cost of installing a solar PV system through 2019, including:
The Utah Investment Tax Credit is calculated at 25% of the total system cost with a cap of $2,000. A typical sized system will reach the cap of $1,600.
Financing options are available with no upfront costs and similar monthly payments as your current electricity bill with qualified credit.
This process is the billing arrangement with your utility that allows you to receive credit for excess renewable electricity delivered to the grid. When a residential net metered solar PV system produces electricity, the electricity first serves the home's onsite electricity demand and any excess electricity is provided to the utility grid.
If the residential solar PV system generates more electricity than the home uses during a given billing cycle, net metering customers receive bill credits which can be used to offset future usage. The goal is to design the PV solar system to over-generate power in the summer to off-set the limited productivity during the winter months. This is how to eliminate 100% of your electricity usage during the year.
Governed by RCW 82.16.165, a Production Incentive is paid per kilowatt hour (kWh) to those who install solar based upon the size of the solar system, date of certification/installation and whether or not the solar modules are Made in WA.
|Fiscal Year Ends||Base Rate: Residential||Base Rate: Commercial||Bonus for Modules made in WA|
The Solar Investment Tax Credit ("ITC") is a federal tax credit for solar systems placed on residential (under Section 25D) and commercial (under Section 48) properties. In December 2015, Congress acted to extend the 30% tax credit through 2019 with a step down in subsequent years: to 26% in 2020, to 22% in 2021, and thereafter it is 0 (zero) for homeowners and 10% for businesses. Link to SEIA's website with a breakdown on the ITC.
Oregon Energy Trust incentives for PGE and Pacific Power
Your Energy Trust cash incentive amount depends on the size of your system and your electric utility.
|Portland General Electric||$0.60/watt||$4,800 maximum incentive per home|
|Pacific Power||$0.55/watt||$4,400 maximum incentive per home|
Incentives are available on a first-come, first-served basis.
Our 2018 budget is $150,000, and we will periodically review remaining funds. Incentive levels are subject to change and may end at any time.
Update (Jan. 29): We have allocated 35 percent of the 2018 incentive budget.