Residential Installations:
30% of total installation costs are credited when you file your tax return. (But check with your own CPA or tax advisor to verify eligibility)
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Commercial/Agricultural/or any income producing property:
30% for total costs
Plus you may be eligible for Section 179 Deduction or Bonus Depreciation Deduction which can be between 28-35% of the total cost of the project. Confirm your eligibility with a Tax professional).
Example: (Sample Only; every location will have its own set of conditions, circumstances, electrical requirements, etc.)
Total Install costs = $22,000
30% tax credit = $7,200
Sect. 179 = $8,400
Total Net Cost: $ 6,400
5.13 Years to recover investment.
If you generated 2900 KWh in a year, the time to recover your investment would be 5.13 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 3.44 years. These incentives are subject to change at any time, this example is as of Dec. 2011.
CHELAN COUNTY= 21 Cents in addion to all other state incentives, gives you a return on investment of 3.44 years.
