Solar Energy in Washington
While Washington may have less-than-average sun exposure and cheap electric rates, the combination of full retail net metering and the 26% federal tax credit makes going solar in The Evergreen State a terrific investment.
Washington’s successful renewable energy system incentive program recently met its cap and is no longer accepting applications. This may cause a bit of a blow to the solar industry, as the incentive program promoted the installation of 42.7 megawatts (MW) of residential-scale solar projects.
Although this incentive is no longer available, it just goes to show that the sooner you install solar in Washington, the more savings you may be eligible for. Don’t wait for time to run out on the incentives that are available, take advantage of them while you can!
Washington Solar Power Facts
$2.62 watt
Average cost: 5kW solar power system.
Average Payback time
On average it takes 17 Years 7 Months to pay back the system.
Average Lifetime Savings
On average, solar power can save you $14,483 over your lifetime.
8¢ kWh
This is the levelized cost of solar energy.
13¢ kWh
This is the levelized cost of energy without solar panels.
30,500 kWh
Annual power production of home solar panels.
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How much do solar panels cost in Washington?
Before 26% solar tax credit
Before 26% solar tax credit
Ave 15 year term, 2.5% price escalator
What are the pros and cons of installing solar panels in Washington?
The advantage of installing solar panels in Washington is the state-mandated net metering law, which is key to making solar a worthwhile investment. Couple that with the federal tax credit and you have the potential for great savings.
The main disadvantage of installing solar panels for your home in Washington is that there is less overall sunshine in the state per year, on average. This means a solar system produces less here than it would in sunnier states, such as Arizona. Also, the cost of grid power is cheap in Washington so you get less money back for excess generation than you might in a state with higher electricity prices.
Despite these, there are still ways to save on a solar system that make going solar in Washington an excellent choice.