Are you a homeowner in Oregon who is considering making the move to solar? If you answered yes to this question making the switch to solar may be easier than you think. As of 2016, the state of Oregon has adopted some of the most aggressive renewable portfolio standards (RPS) in the country –with an 8% solar carve-out. This means in 2016 alone, 8% of energy sold by Oregon electric utilities was required to be renewable energy. These stringent RPS targets have led to the statewide adoption of financial incentives that encourage Oregon homeowners to go solar. So if you are a homeowner in Oregon, making the switch to solar may be easier than you think. This article will explore two of the most consequential state incentives available to homeowners.
Oregon’s State Solar Tax Credit
The most popular financial incentive offered by Oregon for solar homeowners is the state solar tax credit. The Oregon solar power tax credit is one of the most attractive in the country and offers homeowners $1,500 per kW of installed solar up to $6,000. This means if you install a 4 kW system you will be able to enjoy the maximum incentive amount. These are credits, not deductions, and represent a one-to-one reduction of your annual tax appetite. However one should keep in mind that the maximum credit that can be exercised in one year is $1,500. If you qualify for the maximum incentive amount your credits will rollover to the following year until all your credits have been exercised.
Local Level Solar Incentives
In addition to the statewide solar power tax credit, The Oregon Energy Trust also offers financial incentives to homeowners in the form of rebates. These rebates are distributed through Oregon electric utilities, and, depending on the program, can pay for a significant portion of your system. Most utilities offer incentives based on system size and incentives can range anywhere from $400 to $750 per kW. Funding for these programs won’t last forever though. In 2016, Pacific Power promoted a strong rebate program of $600 per kW with a maximum incentive of $6,000. Unfortunately this program closed in March of 2016 and the utility has yet to commit to reopening the program. More rebates will surely begin losing funding as the state gets closer to reaching its RPS goals, so in some cases it may be advantageous to make the move to solar sooner rather than later.
It's Time To Go Solar Oregon
With Oregon offering incentives on both the state and local levels now is a better time than any to switch to solar (don’t forget about the 30% federal solar tax credit as well)! If you are considering solar we encourage you to reach out to one of our solar educators.
We are an online marketplace that makes going solar hassle-free while saving you over $4,000 more than if you went directly with an installer. Our team is ready to ensure you get all the possible incentives in your area. Please call (888) 454-9979 or click the button below to get started. We are excited to help you make the switch to solar!