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Solar Incentives
Whether you're a home, farm, or business owner, financial incentives fall into two categories: Energy Trust incentives and tax credits.
Energy Trust incentives are cash incentives that are paid to your chosen contractor and deducted from the project cost that is quoted to you.
Tax credits reduce the amount of taxes you owe and the end of the year or quarter, depending on how your tax situation is structured. The tax credits available to you fall into two categories, federal and state, both of which are applied to the project cost after the Energy Trust incentives. See the below cost example. |
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Financial Incentives
Energy Trust
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PGE: $1.75/watt DC; Max $20,000 per home
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Pacific Power: $1.50/watt DC; Max $20,000 per home
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Oregon Residential Energy
Tax Credit
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$2.15 per watt of total system size; $6,000 cap; spread evenly over 4 years
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Federal Income Tax Credit
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30% cost after Energy Trust incentives
claimed at end of year one
(Federal tax credits can be used for up to 10 years)
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Cost Example
In this example we use a 2.8 kW system, which is considered a small residential system. This system in Oregon will likely produce somewhere around 2800 kWrs in a year. The average home in Oregon uses 10,000 to 12,000 kWhs per year. Therefore this system would cover roughly 25% of the average home's electricity needs.
$19,880 Installed Cost for 2.8kW Solar Electric system at $7.10 per watt
(4,900) $1.75 per watt cash incentive from Energy Trust of Oregon
14,980 Out of Pocket Cost
(4,494) 30% Federal Tax Credit
10,486 Net Cost after Energy Trust Incentives and Federal Tax Credit
(5,243) Oregon Residential Energy Tax Credit**
$5,243 Net System Cost
* Project costs do vary for each home. Please call for details.
* This example also assumes the home is a customer of PGE, incentive $1.75/watt.
** $2.15/watt with a maximum $6,000; no more than of 50% Net Cost after Energy Trust Incentive and Federal Tax Credit
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