Washington State’s New Incentive Plan

HOME TO A growing number of solar power-related manufacturers, Washington State has a new law that will encourage more of these renewable energy companies to locate within its borders. The law provides manufacturers of solar energy panels, components, and systems with tax credits based on the value of solar energy systems sold.

“The solar power industry is expanding both nationally and internationally, and we are uniquely situated to capture a significant part of this growth,” explained Juli Wilkerson, director of the Washington State Department of Community, Trade, and Economic Development. The state is home to several solar electric corporate leaders that produce a wide range of products and services.

To further its commitment to renewable energy, the state legislature also passed a related law that establishes a cost recovery incentive payment of up to $2,000 annually for electricity generated from a solar or wind system or an anaerobic digester to be paid to individuals, businesses, and local governments.

Copyright Halcyon Business Publications, Inc. Aug/Sep 2005