2024 Oregon Solar Rebates: Tax Credits, Incentives, and Energy Trust Program

Posted on February 22, 2024

Oregon Solar Rebates and Incentives

Oregon has become a beacon for renewable energy initiatives, with solar energy taking center stage. The state offers a variety of incentives and rebates to encourage homeowners and businesses to adopt solar energy solutions. These incentives aim to reduce the initial costs associated with installing solar panels. Moreover, it is key in promoting sustainable energy practices across the state. From federal tax credits to local rebates and net metering policies, Oregonians can access numerous benefits that make going solar an attractive and financially viable option.

Key Takeaways

Oregon offers a range of solar incentives, including the Solar Electric Incentive Rebate Program, local utility rebates in cities like Eugene and Salem, and the Oregon Solar + Storage Rebate Program.

The federal Residential Clean Energy Credit further reduces solar system costs by 30%

Oregon's net metering policy allows homeowners to earn credits for excess electricity generate.

Special emphasis is placed on making solar energy accessible to low- and moderate-income households.

Although Oregonians must wait until mid-2024 for new energy efficiency rebates under the Inflation Reduction Act.

What are the best Oregon solar tax credits and rebates?

In Oregon, various incentives for solar energy help make it more accessible for residents. Programs like the Solar Electric Incentive Rebate Program and local utility rebates in Eugene and Salem make it more affordable and appealing. The federal Residential Clean Energy Credit can also lower the cost of solar systems by 30% for qualifying buyers. Additionally, the Oregon Solar + Storage Rebate Program provides further financial assistance. Thus offering rebates of up to $5,000 for solar electric systems and $2,500 for storage systems. These initiatives aim to encourage the use of solar energy. Therefore, making it financially feasible for more people in Oregon. At the same time, supporting the state’s renewable energy objectives and helping homeowners save money on energy bills.

Solar electric incentive rebate program

Portland General Electric (PGE) or Pacific Power customers are qualified for Oregon’s solar electric incentive program. This program offers an initial rebate of $1,200 (PGE) or $900 (Pacific Power) to eligible customers who own their system. Additionally, this is done in collaboration with an authorized Energy Trust solar trade ally contractor.

Local and municipal utility rebates

Even if you do not live within the service areas of PGE or Pacific Power, numerous local solar incentives in Oregon can assist in covering the expenses of transitioning to solar energy. A few examples include:

In Eugene, the Eugene Water and Electric Board offers a $0.40 per watt rebate to homeowners who install solar panels. This can reach up to a maximum rebate of $2,500.
Customers of Salem Electric may qualify for a rebate of $300 per kilowatt installed. This can reach up to 50% of project costs, or $1,500, whichever is less.

Net metering in Oregon

Due to Oregon’s net metering regulations, you will be credited on your utility bills for the additional electricity your solar panels produce. Suppose you generate more power than you consume. In that case, you can store it with your utility company and access it later when you require additional electricity.

Remember to take advantage of federal solar incentives! With the Investment Tax Credit (ITC), you can lower the price of your PV solar energy system by 30 percent. It is important to note that the ITC applies only to those who purchase their PV system upfront. Moreover, this is either with cash or a solar loan. Furthermore, you must have sufficient income for the tax credit to have an impact. But there is an exemption unless you are a tax-exempt organization, you may qualify for a direct payment.

Oregon Residential Energy tax credit

Individuals with solar panels installed before December 31, 2017, could receive a tax credit on their Oregon state taxes to offset costs. The credit was calculated at $1.70 per watt of installed capacity, with a maximum credit of $6,000. Unfortunately, this tax credit is no longer available after 2017.

Oregon Solar + Storage Rebate Program

The Oregon Solar + Storage Rebate Program benefits Oregon’s residential customers and low-income service providers. Once you sign up for the program, the rebates are given to approved contractors, who then pass on the savings to you, the customer.

As stated on the Oregon Solar + Storage Rebate Program website, you can receive up to $5,000 for your solar electric system and up to $2,500 for an energy storage system.

“For low- or moderate-income households, the rebate can be up to $1.80 per watt of installed capacity, covering up to 60% of the net cost or $5,000, whichever is lower. Homeowners who do not fall under the low- or moderate-income category can still apply for incentives and receive a rebate of $0.20 per watt of installed capacity,” the website explains.
Even if you do not qualify for the utility incentive, you may still be eligible for a rebate of $0.50 per watt, covering up to 40% of the net cost or $5,000, depending on which amount is less.

Is It Worth Going Solar in Oregon?

There are various reasons why Oregon is an excellent state for embracing solar energy. Despite Oregon’s reputation for rainy weather, the state still receives ample sunlight, with an average of 142 sunny days per year sufficient for generating significant solar power. Oregon provides various solar incentives, such as the Oregon Solar + Storage Rebate Program and the Solar Within Reach Program, which can substantially lower the initial solar energy system costs.
Furthermore, Oregon’s net metering law enables homeowners who produce electricity to offset their electricity expenses.

The Solar Industry is also affected by these incentives and rebates; watch our video to know more:

Oregonians won’t see clean energy rebates until mid-2024

Oregonians looking forward to making their homes more energy-efficient and environmentally friendly will have to wait until mid-2024 or later to apply for home electrification and efficiency rebates. This delay comes as the Oregon Department of Energy works on developing a program funded by the federal Inflation Reduction Act, which allocates $113 million to Oregon for such rebates. The program aims to cut greenhouse gas emissions, bolster home resilience against extreme weather, and reduce air pollution.

Despite the slow start, two main initiatives will be offered: rebates ranging from $2,000 to $4,000 for energy efficiency retrofits available to all households, with a focus on serving lower-income households, and point-of-sale rebates for low- and moderate-income households for high-efficiency electric appliances and upgrades, potentially covering up to 100% of project costs for low-income households.

In anticipation of these rebates, the Oregon Department of Energy plans to set up a resource hub to help residents navigate available rebates, tax breaks, and other assistance for installing heat pumps, insulation, and other retrofits. Meanwhile, Oregonians can access a 30% tax credit for certain energy-efficient home improvements and clean energy projects. Moreover, other state and local incentives include financial assistance for heat pump installations and a weatherization program for low-income households.

Conclusion

Oregon’s commitment to solar energy is evident in its comprehensive array of incentives and rebates designed to make solar installations more affordable for its residents. By leveraging these financial assistance programs, Oregonians can significantly reduce the cost of going solar, contribute to the state’s renewable energy goals, and enjoy long-term savings on energy bills. Despite the wait for new rebates expected in mid-2024, the state’s existing programs offer ample opportunities for individuals and businesses to invest in solar energy today.

Embrace A Sustainable Life

For Oregon residents considering solar energy, now is an opportune time to explore the available incentives and rebates. Don’t miss the chance to be part of Oregon’s green energy future. Get A Quote from us!

Frequently Asked Questions (FAQ) on Solar Energy Incentives and Rebates

1. What are the incentives available for solar installations in Oregon?

Oregon has various incentives to promote solar energy adoption, such as the Oregon Solar Energy Trust rebate program, federal tax credits, and Energy Trust of Oregon incentives.

2. How can I benefit from federal tax credits for installing solar panels?

Homeowners who install solar systems can take advantage of federal tax credits until 2024 to reduce the cost of their solar installation.

3. Are there any storage rebate programs associated with solar electric systems?

In addition to solar incentives, some programs offer storage rebate options for those looking to add energy storage to their solar electric system.

4. How do I access solar rebates in Oregon?

Rebates for solar installations in Oregon are typically issued by approved entities such as solar trade ally contractors registered with the energy trust or the state of Oregon.