Financial Incentives

Oregon has a variety of programs set up to further the development of renewable energy in the state. Here is a brief run down of what is out there. (Other regional benefits may also apply.)

Business Energy Tax Credit: The Oregon Department of Energy offers a tax credit to all commercial energy systems. Entities with no tax obligation can transfer their tax credits to any other individual or organization that does (called a pass through credit). (More info on the ODE website)

• 35% tax credit for businesses investing in solar
• Accelerated depreciation for business property

Residential Energy Tax Credit: The Oregon Department of Energy offers a tax credit to all residential solar energy systems. (More info on the ODE website)

• Tax credit is based on $3 per watt up to $1,500
• Minimum system is 200 watts

Low Interest Loan Program: The Oregon Department of Energy offers low interest loans for solar energy projects. (More info on the ODE website)

• 6% to 6.5% interest
• Up to 15 year term
• $500 loan fee
• Secured loan

Property Tax Exemption: Value added to property from the addition of renewable energy power systems is not counted toward your home or businesses property tax burden in the state of Oregon.

Federal Business Energy Tax Credit: Similar to state credit, but through the federal government.

• 10% tax credit for businesses investing in solar

BEF Green Tags Incentives: The Bonneville Environmental Foundation is a not-for-profit organization was established to help develop renewable energy in the Northwest. They offer to buy the rights to the environmental benefits of your new renewable energy system while you get to use the power. You generate the power, they take the credit for cutting pollution. (More info on the BEF website)

• 10 cents/Kwh of power produced
• 5 year contract