Invest in a Brighter Future (and Lower Power Bills!)
A decade ago when our business was first getting off the ground, the cost for residential customers to install solar was fairly steep, and the loan opportunities to finance residential solar installations were virtually non-existent. In recent years, however, residential solar systems have become much more affordable and financing options have become more plentiful -- thereby opening the possibility of installing solar to a whole new demographic. Reduced solar panel prices -- along with improved incentive and loan programs -- have enabled many of our customers to make their dream of “going solar” a reality. Nationally, Oregon ranks among one of the best states in which to install solar, offering some of the best cash incentives to its residents. Where most states' incentives and rebates are being decreased or eliminated, Oregon actually introduced new incentive and rebate programs in 2020. Some of these incentives are geared to assist those households who fall in the low to moderate income bracket. For example, a single-person household with an annual income of $54,240 or less is eligible for up to $9,000 in incentives to help offset the installation costs of their system, depending upon the size of their installation.
Our company handles all design work and incentive application processes in house. The federal tax credits and cash incentives and rebates available to Oregon residential customers are highlighted below.
Tax Credits and Cash Incentives Available for Residential Customers
NEW Solar & Solar Plus Storage Rebate For Oregon residents, HB 2618 introduced a new solar and energy storage rebate program. Installations can be paired with a battery back up system (the solar plus storage system option) or as individual systems without battery storage backup. Oregon Department of Energy opens reservations for this incentive January 22nd, 2020. The allotment is fixed, and once the reservations fill, a wait list will be started. A second round of allocations will be available on April 15, 2020*.
Solar: $0.20/watt (up to $5,000) for residential customers that qualify for the Energy Trust incentive (see below for additional incentives).
$0.50/watt (up to $5,000) for residential customers that do not qualify for the Energy Trust incentive.
$1.80/watt (up to $5,000) for low- or moderate-income rebates.
Storage: $300/kWh (up to $2,500) for all residential installations.
*Incentive reservations are expected to fill up quickly. Contact us today. Click below to learn more about Oregon Department of Energy's Solar and Storage Plus Storage Rebate Program:
For qualifying Oregon residential customers of PP&L, the Energy Trust of Oregon cash incentive is calculated based on system size, accordingly:
$1.50/watt, up to $9,000
Solar Within Reach is an income-based incentive and requires a homeowner to determine their qualification. Solar Within Reach is a program offered by the Energy Trust of Oregon and therefore subject to the same requirements as the cash incentive.
Click below to see if you qualify for the Solar Within Reach program:
26% tax credit* for jobs placed in service after 12/31/19 and before 01/01/2021
22% tax credit* for systems placed in service after 12/31/2020 and before 01/01/2022
Can be taken in one year or extended
*Tax credits are based on customer's "out-of-pocket" costs -- i.e. how much the customer actually pays his/her contractor, which is the total job cost minus the Energy Trust of Oregon cash incentive for Oregon residents. Click below for more information about the Federal Income Tax Credit (ITC):