Oregon boasts the stunning Crater Lake National Park and is home to the Cascade Mountains. And having an average annual sunlight of 3,830 kJ/m², it would be wise to invest in solar power energy to save money on electricity bills, conserve the natural environment, and receive incredible solar incentives and rebates as well as a property owner.
Suppose you're interested in solar power and live in Oregon. In that case, you'll have a variety of Oregon solar incentives to explore, as Oregon is very progressive regarding solar power and renewable energy sources.
Oregon has mandated that by 2040, a massive 50% of all energy must come from a renewable energy source. That's good news for all those who are gearing up to compare solar quotes!
Thanks to impressive net metering laws, consumers have another massive perk when installing solar panels. Net metering allows those who use solar panels to offset the cost of the power they draw from the utility. When you generate more energy than you consume, you can store it with your utility provider and use it later when you require additional power to meet your needs.
As Oregon has clear, strong interconnection standards, it is much easier for companies to provide net metering. With transparent guidelines for everyone to follow, panel owners can immediately start seeing perks and solar incentives from their solar panel system!
The state's rebate program is handled through the Oregon Incentive Trust. Oregon property owners can get one lump sum payment or have their installer take the amount off the final installed price.
Solar Power Performance Payments are also available to Oregon residents. These Oregon solar incentives are based on the metered power system that you use. You earn Solar Renewable Energy Credits based on the number of kilowatt-hours that your system generates, once again making another strong case to go solar!
If you're a customer of either Portland General Electric (PGE) or Pacific Power in Oregon, you can qualify for the state's solar electric incentive program. The program offers an upfront rebate of $1,200 (PGE) or $900 (Pacific Power) to those who own their solar energy system and collaborate with an approved Energy Trust solar trade ally contractor.
Oregon offers solar incentives and rebates for residents who wish to switch to solar energy. The Eugene Water and Electric Board offers solar homeowners a maximum rebate of $2,500. Salem Electric provides a rebate of $300 per kW installed, up to 50% of project costs, or $1,500.
Remember the Federal Tax Credit! When you buy a solar panel system, you can take advantage of the Solar Investment Tax Credit (ITC), also called the Residential Clean Energy Credit, which lets you reduce the cost of your system by 30%. Remember that this credit only applies to those who purchase their PV solar energy system outright with cash or a solar loan. Additionally, you must have sufficient income for the tax credit to be meaningful unless you're a tax-exempt entity eligible for a direct payment. It's important to note that this percentage is only set to decrease in the future, so it's best to install solar panels sooner rather than later to take full advantage of this benefit.
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