See The 2022 Oregon Tax Incentives for Solar
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See The 2022 Oregon Tax Incentives for Solar
A comprehensive list of all the money saving and tax incentive opportunities in Oregon
Oregon is a fantastic location to take advantage of solar incentives. Oregon is ahead of the curve when it comes to alternative energy solutions and has many generous incentive programs offered by the state.
A variety of generous incentive programs are offered by Oregon and local utilities on top of the federal 30% Solar Investment Tax Credit.
We don’t know how long these programs will be available, so reach out to our staff and make sure you don’t miss your chance.
The federal government gives a tax credit for 30% of the cost of a residential or commercial solar system, with no upper limit. This credit is available for both existing homes and for new construction.
You can read more on the official website: www.energy.gov
Oregon offers net-metering for customer-owned renewable energy generated. For an explanation of how it works, check out our How It Works page.
Oregon has electricity rates on the cheaper side right now, which has been nice to enjoy the lower costs. However it’s important to consider that rates typically increase each year.
If your electricity rates were to increase at 5% annually, in five years you will be paying $153.15/month instead of $120. If you’re a business and use more energy, the savings is even greater.
By installing your own residential, commercial, or agricultural solar power system, each year you are paying off your solar investment and moving towards energy independence.
Energy Trust of Oregon Solar Electric Buy-Down Program, available to customers of Pacific Power and PGE who install new home solar power systems on new or existing homes.
The Energy Trust Cash incentive is generous and based on system size. Give us a call and ask what the current incentives are or explore the Energy Trust website for up-to-date incentives and their status”. https://insider.energytrust.org/wp-content/uploads/solar_status_report.pdf
If you install a home solar power system in Oregon, the value you’ve added to your home will not be included in the assessment of the property’s value for property tax purposes.
Which is a big win for home owners!
Energy.gov released information on the increased value of properties with solar systems installed. What they found was that property values went up an average of $15,000 over assessed value. That alone translates into a good investment right from the start, not including the energy savings over the long run.
Farms and commercial properties see an even larger increase in value due to their operations and typical solar installation size.
Source: Energy.gov Article
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