With the cost of solar energy dropping by nearly 70% over the last decade coupled with the numerous tax credits available 2020 is the best time to invest in solar panels and other solar technologies.
Why Invest in Solar Panels in Spokane or Coeur’ d Alene?
1.) Return on Investment from Solar Power
Just several years ago gaining a return on investment from solar power was nearly impossible. With the recent advancements of solar panel technology and manufacturing efficiencies solar is now an energy source that almost every home or business should consider.
2.) Positive Environmental Impact
It’s no secret that solar power is healthier for the environment then other energy sources such as nuclear, coal, and gas. For the average american household converting to solar energy for just one year is the equivalent of growing 122 seedlings for 10 years, not burning over 8,000 lbs of coal, and driving 18,000 miles less.
The environmental impact for manufacturing solar panels is also offset after just two years of use on average.
3.) Self Sufficiency From Grid Power
The ability to manufacture and store your own power independent of the grid is a game changer for many homeowners in the Spokane & Coeur d’ Alene regions looking to get away from the daily grind.
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Reduction in Solar Prices Since 2010
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Take Advantage of the 26% Federal Tax Credit in 2020
Back in 2005 the federal government started the solar investment tax credit otherwise known as the ITC through the Energy Policy Act of 2005. Originally set to expire in 2007 the popularity of the program grew and was extended for homeowners until the year 2021 with diminishing benefits each year as outlined below:
- 2019 – Federal Tax Credit = 30%
- 2020 – Federal Tax Credit = 26%
- 2021 – Federal Tax Credit = 22%
- 2022 Federal Tax Credit = 20% (Commercial only)
If you are unable to use the full tax credit in one year you can carry the savings into future tax years.
If you’re looking into solar energy you will want to go green as soon as possible to take advantage of these amazing tax credits.
Washington Solar Incentives
Washington Tax Breaks:
- Starting in 2019 Washington has reinstated its 100% sales tax exemption on all solar equipment and labor for solar systems up to 10kW.
- Systems above 10kW are exempt from 75% of sales tax.
Washington State Renewable Energy System Incentive Program:
- Residential Systems under 12kW may be eligible to receive incentives payments up to $5,000/year
- Commercial Systems above 12kW may be eligible to receive incentive payments up to $25,000/year
Did you know?
Washington is a “Solar Access” state which means solar panel systems cannot be restricted by your HOA or other CC&Rs your neighborhood may be subject too.
Idaho Solar Incentives
Idaho State Solar Tax Credit:
Idaho residents who install solar energy systems are eligible to claim a tax credit equal to 40% of the solar costs, up to $5,000.
Solar equipment is also exempt from property and sales tax in Idaho.
Net Metering for Energy Credits
Net metering is an agreement between you and the utility company allowing the sell excess power your home or business produces back to the grid for energy credits. While solar is the most cost effective for most people this excess energy can also be generated from wind, hydro, or even bio-gas from animal waste.
Each utility company has their own net metering policies & regulations and we recommend reaching out to them directly for more information.
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Solar Power Frequently Asked Questions
Our region is a good fit for solar energy because of the areas long summer days which actual can produce more solar power then some desert areas with shorter days.
Below is a map that outlines how much solar energy resources are produced in any given area in Washington State.
Most solar panel systems will last between 25-30 years before needing to be replaced.
Our solar panels come with a 25 year manufacturers warranty.
If your solar panels are covered in thick snow it can negatively impact your solar production. In many cases the pitch of your solar panels will naturally shed snowfall, but you can also purchase solar snow brooms to help remove excess snow.
Solar panels will often out last your current roof lifespan so we recommend replacing your roof if it has 10 years or less remaining before needing to be replaced.