Residential Installations:
30% of total installation costs are credited when you file your tax return.
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Commercial/Agricultural/or any income producing property:
30% for total costs
Plus you may be eligible for Section 179 Deduction is usually 28-35% of the total costs of the project. Check with your own CPA or tax advisor for eligibility.
Example: (Sample Only; every location will have its own set of conditions, circumstances, electrical requirements, etc.)
Total Install costs = $24,000
30% tax credit = $7,200
Sect. 179 = $8,400
Total Net Cost: $ 8,400
4.34 Years to recover investment.
If you generated 4500 KWh in a year, the time to recover your investment would be 4.34 years, assuming the cost of power for net metering was 10 cents per KWh, and 33 cents per KWh for Washington State production incentives.
OPALCO Utility disctrict. = 30 Cents in addition to all other state incentives, gives you a return on investment of 2.55 years.
CHELAN COUNTY = 21 Cents in addion to all other state incentives, gives you a return on investment of 2.91 years.
