Promoting a sustainable, local renewable energy industry through modifying renewable energy system tax incentives and providing guidance for renewable energy system component recycling.
Summary
Closes the Renewable Energy Cost-Recovery Incentive Program to new customer participants after September 30, 2017.
Creates a new production incentive program for renewable energy systems, beginning July 1, 2017, and ending June 30, 2021, with declining incentive rates depending on the fiscal year of certification and system type . Certification is for a term of eight years or when 50 percent of the of the total system price is reached, whichever comes first.
Extends the public utility tax (PUT) credit to incentive payments made under the new production incentive program until June 30, 2029.
Increases the PUT credit cap to 1.5 percent of the businesses' taxable power sales in calendar year 2014.
Requires Washington State University to cease certifications for the new production incentive program when it is likely to exceed $110 million.
Allows a utility to organize and administer a shared commercial solar project beginning July 1, 2017.
From the Engrossed Substitute Senate Bill Report (ESSB 5939), written by the Legislature's nonpartisan staff. Read the full report ↗
EnactedEnacted · Chapter 36, Laws of 2017, 3rd Special Session
AN ACT Relating to promoting a sustainable, local renewable energy industry through modifying renewable energy system tax incentives and providing guidance for renewable energy system component recycling;