Renewable energy systems

From the 2024 DOR Tax Exemption Study

84.36.680 - Renewable energy systems Description Qualified personal property used exclusively for the generation or storage of renewable energy is eligible for an exemption from property taxes levied for any state purpose. The exemption is available for 10 or 15 years following the date on which the facility where the property is located first becomes operational. Qualified personal property is personal property used exclusively for the generation or storage of renewable energy in a facility, the construction of which began on or after July 1, 2023. Renewable energy is energy produced by a solar or wind facility with nameplate capacity sufficient to generate at least 10 megawatts of alternating current power. To receive this exemption the property owner must pay a renewable energy excise tax. Purpose To encourage renewable energy facilities to locate in Washington while supporting local governments, schools, and communities. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.000 $0.000 $0.396 $0.967 Local Taxes $0.000 $0.000 ($0.098) ($0.471) Repeal of Under a budget-based system, repealing a property tax exemption would normally exemption not increase