Establishes the carbon free Washington act.

Reduces the cost of transitioning to electric generation sources that have very low or zero carbon dioxide emissions.

Provides tax preferences to reduce the cost to ratepayers of constructing and operating new renewable energy generation capacity equal to or greater than necessary to serve projected Washington electricity load growth.

Repeals chapter 19.285 RCW (the energy independence act), which will take effect upon the effective date of any act by the legislature that imposes a tax, fee, or other monetary price on the carbon content of fossil fuels and electricity sold or used within the state, such as a carbon tax or cap-and-trade program.