Oregon Solar Tax Credits
Current Oregon Solar Tax Credits
Combining Oregon solar tax credits with other incentives and benefits, you can cover 80% of the upfront costs associated with a brand new solar energy system. Act now as more and more customers are taking advantage of the $6,000 residential energy tax credit (RETC). Spots before the 2017 deadline are filling fast.
$6,000 Solar Tax Credit For Homeowners
Expires December 31st, 2017
To make solar more affordable, the state of Oregon also provides a solar tax credit called Residential Energy Tax Credits (RETC). This credit program offers up to $6,000 or 50 percent of the cost of the system (whichever option is less).
The amount you receive is determined by how large your solar panel system is. The current rate is $1.3 per watt. The larger the solar system, the more tax credits you will receive. As a tax credit, it will reduce your Oregon state taxes in a one-to-one fashion. The credit is dispersed over 4 years in $1,500 increments.
Current Tax Credit Rate: $1.3 per watt.
You purchase 4,800 watts of solar energy
Multiple $1.3 by 4,800 which equals $6,240
Your tax credit is $6,000 because you hit the max
Secure Your $6,000 Oregon Solar Tax Credit, Today!
- Get your initial questions answered with a Free Solar Consultation
- Have placed a deposit before December 31, 2017
- Have your solar panel system inspected by the utility before April 1st, 2018
Act now as more and more customers are taking advantage of this $6,000 tax credit. Slots are filling up!
Federal Investment Solar Tax Credit
This incentive is a credit to your tax return worth 30% of the total cost of your solar electric system. The credits can be used within 5 years from the date of installation.
Example Using the Federal Solar Tax Credit
Cost of System:
Federal Tax Credit Gained
Combined with other Oregon residential solar tax credits and incentives paybacks are quick and the energy savings are long-lasting.
MACRS Accelerated Tax Depreciation
85% of total solar installation costs are eligible for depreciation. This can add a tremendous amount of financial value to your system.
MACRS Accelerated Depreciation Table
MACRS Bonus Depreciation Table
Depreciation is the loss of value that occurs over time with the item your business purchased for a specific use. As a business owner, you are eligible to deduct this “loss in value” from your taxable income when used for your business.