Update! Congress passed an extension to the federal solar tax credit. Learn more below.
Now is the time to go solar in Oregon. Growing adoption of solar and advancements in technology means that equipment prices have dropped to record levels.
Wondering how solar could work with our climate? Great question! Learn about solar in the Pacific Northwest.
These incentives won’t be around forever, so contact us or give us a call at (503) 420-8680 to start your journey to clean, limitless energy!
There are many financial reasons for homeowners and business owners to consider installing solar energy systems.
Congress extended the federal solar tax credit (known as the ITC) for an additional two years. This means that you’ll receive a tax credit of 26% of your system’s cost in 2021 and 2022 and 22% in 2023. A tax credit is a dollar-for-dollar reduction of the income tax you owe. If you can’t use the full value in one year, you can roll over the remainder to next year. You should check with a tax adviser to make sure you can claim the entire value.
The extension of the ITC demonstrates how committed the federal government is to growing solar across the country. Solar is here to stay.
The Energy Trust of Oregon offers incentives to customers of Pacific Power and Portland General Electric. Depending on the size of your system, you may be eligible to receive up to a few thousand dollars, depending on which utility services your home. The incentive is not based on income.
Net metering is a contract that you sign with your utility that allows you to trade your power with them at retail rates. You get credit on your bill for your excess Kilowatt Hours (kWh) when your system is producing more than you consume. At night or when your system isn’t producing, you buy power from the utility like you do now. Typically in Oregon we produce vastly more than we consume during the summer and build up big credits. Then during the less-sunny winters we use the accumulated credits.
Solar is protection against rising energy costs. Electricity rates go up by 4-6 percent each year and utilities are rolling out smart meters to enable Time of Use pricing tiers.
A&R Solar has an industry leading 110% performance guarantee. That means your system performs how we say it will, or we will refund you 110% of the value of the missed production.
Panel manufacturers’ warranties last 25 years or more, and most panels will perform long after that. That means free electricity for decades.
Low-interest loan payments from Northwest credit unions and banks make going solar even easier.
If you add a battery backup to your solar system, it also qualifies for the Federal Income Tax Credit of 26 percent.
It’s pretty exciting to see how many Oregon homes and businesses have the potential to go solar. Better yet–all of that solar would mean a significant reduction in CO2 emissions, according to Google’s Project Sunroof.
Energy Trust offers cash incentives that reduce the upfront cost of commercial solar installations. The incentive amount depends on the size of your system and your electric utility. Incentives are subject to funding availability and may change at any time.
MACRS is an accelerated tax depreciation schedule in the United States. Under this system, the capitalized cost (basis) of tangible property is recovered over a specified life by annual deductions for depreciation. Qualifying solar energy equipment is eligible for a cost recovery period of five years. This incentive is typically only available for businesses and rental properties.
REAP provides grants and loans to farmers and rural small businesses to help purchase renewable energy systems and make energy efficiency improvements. The program pays up to 25 percent of the project.
Our team maintains a list of active grant programs that may be able to help your non-profit organization or small business go solar. For more information, visit our grants page.
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