2024 Solar Incentives Guide for Longview, WA - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Longview.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2024 and beyond)
- Ways to optimize your solar investment
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What Solar Tax Credits, Incentives, and Rebates are Available in Longview?
Renewable Energy Cost Recovery Incentive Payment
Renewable Energy Sales and Use Tax Exemption
100% exemption for solar photovoltaic systems 10 kilowatts or less, and solar thermal systems;
75% exemption for other qualified systems
Evergreen Sustainable Development Standard for Affordable Housing
Cowlitz County PUD - Residential Energy Efficiency Rebate Program
Energy Star Insulated exterior doors: $40/Unit
Insulation: $0.65-$1.00/Square Foot
Ductless Heat Pump: $800
Duct Sealing: $200-$250
Smart Thermostat: $100-$125
Clothes Dryer: $50
Clothes Washer: $30
Heat Pump Water Heater: $500
Low-Income Insulation: $1.00/Square Foot
Low-Income Replacement Windows, owner-occupied: Up to $20/Square Foot
Low-Income Replacement Windows, tenant-occupied: Up to $15/Square Foot
Low-Income Replacement un-insulated Exterior Doors: Up to $400 each
Manufactured Houses: $1,200-$2,500
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives encourage people to make the switch to renewable energy by offering financial incentives that lower the burden of solar panel installation and use. You might be eligible for several types of incentives, including cash back, discounts or credit towards your monthly utility bill, depending on your situation. Some incentives come from your specific utility company, county or municipality, some from the state of Washington and others from the federal government. Some broad categories of solar incentives include:
- Tax Exemptions: Sales tax exemptions go into effect at the time of purchase for your solar system. Property tax exemptions allow you to ignore the value that your solar panels add when you calculate how much property tax you need to pay on your house.
- Tax Credits: Different from tax deductions, tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government.
- Rebates: Solar rebates might be offered by your state or county, or by your local utility company. These rebates are essentially partial refunds that are applied after you pay for a solar system and before tax credits are calculated.
- Net Metering: You can sign a net metering contract with your Longview utility company. This agreement may apply to all or a percentage of the excess electricity your solar panels generate. Your utility company will then subtract this value from your utility bill each month.
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Federal Solar Incentives
Federal solar incentives are likely to be the first thing that you think of when thinking about solar incentives. You've likely heard of the Federal Solar Investment Tax Credit, or ITC. The ITC is a tax credit that reduces your taxes by a certain percentage of the money you spend installing solar panels.
The ITC can be credited towards the value of a solar system installed on your primary or secondary residence in the United States. The solar panels have to have been installed after January 1, 2006, on a property you own for you to claim the credit. The ITC originally paid out 30% of all costs (panels, accessories, labor and equipment), although this amount has fluctuated over time between 26-30%. The installation date of your solar system will determine what percentage you are eligible for. There is no cap on the amount you can claim.
To better understand exactly how much money the ITC could save you, contact your local Longview solar panel installer.
The Inflation Reduction Act, passed in August 2022, made some changes to the ITC (as well as retitling it the Clean Energy Credit). The Clean Energy Credit runs until 2035. Solar installation projects started after January 1, 2022, and completed by the end of 2032 may qualify for a 30% tax credit; this amount will be decreased slightly on a yearly basis until the current program ends. The expansion to the program also makes it easier to get credit for energy storage systems, beginning in 2023.
Click here to learn more about the new Inflation Reduction Act. To better understand how the new Clean Energy Credit applies to you, talk to your local Longview solar installation company.
State & Local Solar Incentives
Rebates, tax credits and more can be claimed at multiple levels. Along with federal solar incentives, there are often state and local ones, too. Incentives might be provided by the state of Washington, or by your county or municipality. Some incentives may be available for only a limited time, while others are ongoing.
Next Steps for Installing Solar in Longview
There are a variety of solar incentives: those offered by local utility companies, those provided by the Washington government and those provided by the federal government, to name a few. The use of solar energy has increased enormously in the last 15 years, partially thanks to these incentives. We recommend talking to your local Longview solar installer to learn more about these incentives and to ensure that you're getting the most money possible for your solar system.
EcoWatch's Longview, WA Solar Incentives FAQs
I already have solar panels installed. Do I qualify for any incentives?
If your solar system was installed after January 1, 2022, you may qualify for the newly increased 30% tax credit under the Inflation Reduction Act. If you installed your system between 2006 and 2021, you might qualify for a tax credit between 26% and 30%, depending on the year it was installed. Speaking with a representative from the company that installed your solar system, or any local Longview solar installer, can help you understand what incentives you might want to apply for.
How much can I save annually on my electric bill if I add solar panels to my house in Longview?
After adding solar panels to your house in Longview, you can anticipate savings of about $840.86 per year, or around $16,817.21 over the next 20 years.
How long until the federal solar tax credit ends?
The Clean Energy Credit (formerly called the federal solar tax credit, or ITC), currently ends on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.
I want to switch my appliances out for ones that are more energy-efficient. Are there any credits I can get?
With the passage of the new Inflation Reduction Act, there are a variety of new financial incentives that are available when you make eco-friendly improvements to your home. More details about these incentives, including information about incentives for purchasing new appliances, can be found here.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.