Washington leads the clean energy revolution—pioneering solar farms, battery storage, community solar, and green buildings. But going green requires upfront investment. This guide outlines financing renewable energy and clean‑tech in Washington, explaining loan programs, grants, PACE financing, technical assistance, and tax incentives—all tailored for businesses, farmers, nonprofits, and communities.
Washington’s clean-tech sector includes:
Utility‑scale solar (like Lund Hill and Ostrea projects)Community solar and rooftop systems
Energy-efficiency retrofits and grid modernization
Ag-tech farms and rural small businesses
These projects have large upfront costs with long-term benefits—requiring targeted financial strategies to thrive.
Washington’s farmers and rural small businesses can access REAP grants and loan guarantees:
Grants up to 50% and loan guarantees up to $1 million. Funds for solar, wind, biomass, and energy-efficiency upgrades
Supports energy audits, feasibility studies, and infrastructure
Recent IRA funding ensures six rounds of grants through 2024–25
Great for: farms, rural processors, ag-tech enterprises.
State incentives help commercial and nonprofit clean-tech developers:
Clean Energy Fund (CEF): Grants for demonstration and deployment of new technologies, including battery storage and bioenergy
EPIC (Energy Programs in Communities): Administers federal and state clean-energy funding for equity and resilience
Great for: startups, nonprofits, municipal projects, and environmental justice efforts.
The Washington State Housing Finance Commission offers SET loans—up to $1 million for:
Renewable systems (solar, heat pumps)
Energy efficiency upgrades (HVAC, insulation, LED retrofits)
Terms of 10–15 years with low rates
Ideal for: multifamily, nonprofits, small businesses upgrading existing buildings.
C-PACE: Property Assessed Clean Energy programs let building owners finance clean energy and repay via property taxes
WA Green Bank: State-backed institution providing accessible loans for clean energy and efficiency upgrades
Great for: commercial building owners and developers wanting off-balance-sheet financing.
B&O tax deductions for manufacturers of renewable components
Cap-and‑Invest funding supports climate projects—75% of revenues go to clean energy grants en.wikipedia.org
These make green projects more cost-effective and scalable.
Define project scope and cost
Identify eligible programs (REAP, CEF, PACE, SET)
Pre‑qualify with lenders or state agencies
Prepare financials, energy audits, and proposals
Apply for funding and underwriting process
Sign agreements and begin installation
Track energy savings and report for compliance
In Klickitat County:
Lund Hill Solar Farm – 150 MW utility-scale facility powering public agencies via Green Direct Ostrea Solar Project – $150 million construction financing secured for a 104 MW facility in Yakima County
These large-scale projects leveraged tax equity, private financing, and state incentives to support Washington’s clean energy targets.
| Pros | Cons |
|---|---|
| Low‑cost grants and loan guarantees | Applications can be complex and time-consuming |
| State funds (CEF, SET) support innovation | Matching funds often required |
| PACE & Green Bank enable off-balance financing | C‑PACE limited to commercial property owners |
| Tax incentives and Cap‑and‑Invest amplify ROI | Coordination between multiple agencies needed |
| USDA REAP supports rural businesses | Rural eligibility and data gathering necessary |
WA Department of Commerce EPIC unit – Administers equity-focused energy funding
CleanTech Alliance – Industry network with early-stage funding
WA Green Bank – Financing partner for public and private projects
Solar Washington – REAP guidance and community resources
Washington offers a robust mix of USDA, state, and utility-backed financing to support renewable energy and clean-tech projects. Whether you're a farmer expanding solar, a nonprofit retrofitting buildings, or a business innovating clean technologies, pairing the right mix of REAP, Clean Energy Fund, SET, PACE, and tax benefits can dramatically lower your costs and accelerate deployment.
Ready to fund your clean energy project in Washington?
Start with REAP or CEF pre‑qualification, consult the WA Green Bank for PACE, or book a free consult with Solar Washington or CleanTech Alliance to tailor your strategy.