Oregon Incentives

Oregon is by far one of the most progressive states when it comes to enacting solar legislation. The state requires major utilities to generate at least 50% of their energy from renewables like solar by 2040.

As far as rebates and incentives for the customer, Oregon utility companies and the state are offering some pretty generous programs:


NET-METERING
Oregon offers net-metering for customer-owned renewable energy generation. For an explanation of how it works in the state click here.


FEDERAL TAX CREDIT
The federal government gives a tax credit for 30% of the cost of a residential or commercial solar system, with no upper limit, through December 31, 2019. The credit will decrease to 26% for all systems placed in service after December 31, 2019, and before January 1, 2021, and decrease again to 22% for all systems placed in service after December 31, 2020, and before January 1, 2022. This credit is available for both existing homes and for new construction.


REBATES
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.

Details: For systems owned by homeowners: $0.45/watt-DC (W) installed with a $4,500 cap per site for PGE customers, and $0.60/watt-DC (W) installed with a $6,000 cap per site for Pacific Power customers.


RESIDENTIAL ENERGY TAX CREDIT
Homeowners and renters who pay Oregon income taxes are eligible for the Residential Energy Tax Credit if they purchase a home solar power system.

Details: Solar power systems are eligible for $1.50/Watt (W) with a maximum limit of $6,000, up to 50% of the installed cost.


PROPERTY TAX INCENTIVES
If you install a home solar power system in Oregon the added value to your home from the installation of solar power system will not be included in the assessment of the property’s value for property tax purposes. A recent study by the U.S. Department of Energy’s Lawrence Berkley Laboratory found that home buyers consistently have been willing to pay more for homes with host-owned solar photovoltaic (PV) energy systems —averaging about $4 per watt of PV installed—across various states, housing and PV markets, and home types. This equates to a premium of about $15,000 for a typical PV system!
 

FINANCING PROGRAMS

  • GreenStreet Lending Program: Energy Trust of Oregon and Umpqua Bank have partnered to offer this loan to homeowners for home solar power systems. These loans have no loan fees, no closing costs, and offer preferred rates to homeowners who are customers of PGE, Pacific Power, NW Natural or Cascade Natural Gas.
     
  • Homeowners are eligible for two types of loans, the Home Equity Loan and the Unsecured Home Improvement Loan. The Home Equity Loan is for $5,000 to $50,000, carries a fixed interest rate, and a term of up to 15 years.
    • The Unsecured Home Improvement Loan is for $1,000 to $50,000, carries a fixed interest rate, and has a term of up to 5 years.
       
  • Admirals Bank Home Improvement Loan:
    • No equity or appraisal required
    • Secured loans up to $25,000
    • Fixed rates from 4.95-9.95%
    • Tax deductible interest
    • Free re-amortization after receiving tax credit
    • Enter Solar Installer Code: ELEMENTL


Oregon has some pretty cheap electricity rates right now, which is keeping your electric bill low. Consider this, since electricity rates increase at 5% annually, in five years you will be paying $115/month instead of $90. By installing your own home solar power system, each year you are paying off an energy system that is getting closer to energy independence. If you want to find out how an electric solar system pencils out for you, fill out our free site assessment form!