Oregon residential solar tax credits can help reduce the total cost of your solar installation. Depending on whether or not your utility company participates in the cash incentive program with Energy Trust of Oregon, you can likely claim 3 forms of solar incentives for installing a solar system on your home. The incentives and tax credits are outlined below.
Energy Trust of Oregon Incentive
The Energy Trust of Oregon offers a cash incentive for Pacific Power and Portland General Electric customers. Basically, if you pay Pacific Power or PGE each month for electricity, your home will qualify for this incentive. The ETO incentive is immediately taken off the total project cost.
Federal Tax Credit
Homeowners can receive federal tax credit for 30% of the total system cost to be filed during the same year the installation and interconnection (when the system is live, connected to the utility meter, and passed all inspections) is completed. For example, an installation and interconnection completed on December 29, 2014 can be claimed on your 2014 taxes which are filed by April 15, 2015 as a credit. Don’t worry, Sunlight Solar will provide you with instructions regarding how to claim this tax credit.
Oregon State Tax Credit
Oregon State currently offers a tax credit of up to $6,000 to be taken over 4 years. For example, the same homeowner whose installation completed on December 29, 2014 can claim up to $1500 on their 2014, 2015, 2016, and 2017 Oregon state taxes.
Update: The Oregon Department of Energy requires that only (1) name and social security number be listed as the recipient of the Residential Energy Tax Credit (aka RETC). Once you’ve received your RETC certification, you must wait 7 business days before filing your taxes as it may take 7 days for your credit to show up in the ODOE system. For more information regarding RETC specific filing requirements please visit https://www.oregon.gov/energy/At-Home/Pages/RETC.aspx.