Study released assessing the economic impact of the solar energy incentive program introduced in the original version of House Bill 2346
SIW 1/28/2016: This study, prepared by the Center for Economic and Business Research for Western Washington University, assesses the economic impact for the State of Washington of the solar energy incentive program according to the rates introduced in the original House Bill 2346. Asubstitute version of 2346 with revised rates passed the House Technology and Economic Development Committee and has been sent to the House Appropriations Committee for consideration.
This survey was undertaken to define the relationship between each kilowatt of solar installed in the state over the past three years and labor and economic activity involved in manufacturing and installing it. These metrics were combined with the incentive rates and program details of the proposed incentive program to determine the economic impact of each incentive dollar spent.
- According to the rates outlined in the original version of HB 2346 (not the latest substitute bill) every dollar invested by the state generates approximately $7 in payroll and $16 in local economic activity.
- The majority of the incentive is actually returned directly to the state in taxes.