Cost of Solar Panels in Washington D.C.: Best Solar Companies, Cost and Installation
Solar is a complicated decision and OhmHome has compiled this guide to Washington D.C. solar with the cost of solar panels in Washington D.C. and advice on how to estimate cost and savings, navigate state and federal incentives, and find the best solar companies in Washington DC.
Solar Trends in Washington DC
Data will be updated in July 2017.
Cost of Solar Panels in Washington DC
The cost of solar has dropped significantly in recent years due to the increase in module supplies and other supply chain efficiency improvements. According to the U.S. Department of Energy’s Q4-16 Sunshot report, the median price of residential solar in major markets was $4.20 per watt with the lowest 20% at approximately $3.50 per watt.
Solar Incentives in Washington DC
Washington DC offers Solar Energy Renewable Certificates, so homeowners call sell these based on how much energy their panels produce. As of July 2017, DC SERCs trade for $500 per MWh, so if a 6 kW system that generates 6 MWh a year will earn $3,000.
Federal Solar Tax Incentives
The IRS offers a 30% tax credit for solar systems based on the cost after state rebates and credits (discussed above). It is important to note that that federal tax credit only applies to purchased systems and you need sufficient tax liability to claim the credit. The federal solar tax credit was set to expire in 2016, but was recently extended through 2019, at which point it will start to decrease to 10% by 2022. The IRS form 5695, Residential Energy Credits can be found here.
Solar Financing in Washington DC
The number of solar financing options has expanded significantly in recent years to includes a number of low-interest rate loans, as well as power purchase agreements or solar leases. To learn more, refer to our lease or buy solar guide.