You can normally expect to be eligible for the federal solar tax credit program, which was extended through 2034 by the Inflation Reduction Act of 2022. If you install a qualifying system, you can receive a federal investment tax credit (FITC) that allows up to to 30 percent of a renewable energy system’s cost to be recouped as a credit on your federal income tax.
The credit amount will be available to you when you file your tax return for the year the installation is completed. If you cannot use the full tax credit that year, it can carry forward to subsequent years. We recommend contacting your tax professional to discuss how the FITC can impact your projected tax situation for a specific year.
As funding allows, the OSSRP offers Oregon homeowners a rebate of up to $5,000 for installing a solar electric system and up to $2,500 for installing an energy storage system. The systems we install are normally eligible for this rebate. Note that the rebate is paid to Energy Designs, and we simply deduct this amount from the cost of your project. You do not have to pay the full cost of the system up front and then wait for the rebate.
In 2024, EWEB will offer incentive payments to support the installation of a net-metered system on a residence. The amount you receive depends on the size of the system: EWEB will pay about 40 cents per watt DC, up to a maximum of $2,500. For example, a 5 kW residential array, which is fairly typical, would qualify for $2,000.
Please note that if you are eligible for an EWEB incentive payment, it lowers the Oregon Solar + Storage rebate available to you from 50 cents per watt to 20 cents per watt — if you are considered a “non-income qualifying household.” Don’t worry, we do all this math for you, and our bid proposal will accurately reflect the rebates and tax credits for your particular situation.
Once your system is running, you’ll receive the retail rate for every kWh produced by your system, up to 100% of your monthly consumption. If you produce more than that, which is common in the summer, you’ll receive EWEB’s published “net-metered rate” of 6.93 cents/kWh for the additional power you produce in any month.
EWEB’s photovoltaic incentives are funded by customers who voluntarily participate in the EWEB Greenpower program. Customers who wish to see continued or enhanced funding for solar incentives are encouraged to sign up for Greenpower for as little as $1.50 per month.
Learn more about EWEB’s residential solar incentives.
EWEB does not offer a commercial solar incentive, but they do offer an incentive for qualifying non-profit and public organizations within their territory.
EWEB’s non-residential solar incentive for 2024 for non-profits and public entities is 50 cents per AC output watt up to a maximum of $12,500 per EWEB electric meter.
Learn more about EWEB’s solar incentives for non-profit and public organizations.
If you are considering a solar project for a business, an accelerated depreciation schedule (MACRS) may be applied to your solar electric system purchase. Energy Design will work with your accountant to articulate the distribution of MACRS and the impact it will have on your tax situation.