Home solar power installations in Oregon are eligible for incentives in accordance with state ordinances. Additionally, Oregon homeowners and renters are also eligible for Residential Energy Tax Credits if they buy energy efficient appliances, cooling and heating systems, closed-loop geothermal space or water heating systems, duct systems, wind, fuel cells, and alternative fuel vehicles.
Solar Power Installation in Oregon, such as photovoltaic systems and fuel cells, is eligible for $3 per watt with a maximum payout of $6000. The amount of the incentive should not exceed 50% of the total installation costs. However, according to state laws the amount claimed in one tax year cannot surpass $1500 or the taxpayer’s tax liability, whichever is lower. Unused credits are carried over for the next five years.
Other solar power installations in Oregon, such as solar space and water heating systems, are eligible for tax credit of 60 cents per kilowatt-hour (kWh), with a maximum of $1500. Wind-powered systems are also eligible for this incentive.
Spa and pool heating systems that are solar power installations in Oregon are eligible for a tax credit of 15 cents per kilowatt-hour. The tax credit cannot exceed 50% of the total cost, with a maximum amount of $1500.
Closed-loop geothermal systems for water or space heating are eligible for a tax credit of $300 to $900. Wind turbine systems that generate heat might not be solar powered installations, but in Oregon they qualify for a tax credit of $2 per kilowatt-hour during the first year or $6000, whichever is less.
Vehicles running on alternative fuels are entitled to tax credits in Oregon. The vehicle must be registered in the State of Oregon to qualify for the incentive, and bonus tax credits are available when the vehicle owner installs a home charging or fuel system. The maximum amount of tax credit is $1500.
Solar power installation in Oregon and other energy efficiency incentives are available until December 31, 2015. For more information about these tax credits, you can contact:
Oregon Department of Energy
625 Marion Street, N.E.
Salem, OR 97301-3737
Phone: (503) 373-7565
Fax: (503) 373-7806
Web Site: http://www.oregon.gov/energy
Disclaimer: This article does not constitute a source of an official legal or financial advice. While we attempt to represent all data as accurately as possible, we advise you to refer to official government websites for the most accurate and up-to-date information.