Want to lead Oregon's transition to solar energy?
It's too bad Nike claimed "Just Do It" before we did because that's exactly how we feel about going solar in Oregon. Given all of the available incentives for homeowners in Oregon, there is no better time to go solar than now. Oregon bigwigs have already made clear their commitment to supporting renewable energy, as they've set a mandate to ensure that at least 25.0% of all energy generated in Oregon comes from renewable sources by 2025. Even though the solar market has already started heating up with over 100 installers in Oregon alone, it's apparent the industry will only continue to grow as more residents understand how solar technology can actually reduce their utility bills and increase the value of their homes in material ways.
Give us a call today and help Oregon lead the country's energy revolution and gain independence from the grid.
Home Solar in Oregon Is More Affordable than Ever Before
- Federal Tax credit may be available
- 50% State Tax Credit
- Renewable Energy Credits(RECs)
- Sell Your Extra Production with Net Metering
How Going Solar in Oregon Works
Step 1: Sign up online
Step 2: Talk to a solar specialist
Step 3: Check out your custom design
Step 4: Relax during installation
Step 5: Watch your savings grow
Oregon is one of the top states to go solar and maximize your savings. Aside from saving money on your electric bill, there are three other key incentives that help going solar in Oregon make sense: 1) the 26% federal tax credit, and 2) the 50% state tax credit up to $6,000, and 3) Renewable Energy Credits ("RECs").
First, the federal government offers a 26% tax credit which is available in all 50 states. This credit is applied to the federal taxes you pay each year, thereby lowering the net cost of your solar system. This credit is a great benefit of going solar: money that you would otherwise pay in taxes can now be used to own your solar system sooner. It is important to note that you can only reap the benefits of the federal tax credit* – which can cover up to 26% of your system's cost – if you own your system directly (instead of leasing it or choosing a Power Purchase Agreement). With the a Dividend Finance solar loan, you own your system and you get all of the economic benefits of going solar in Oregon.
Secondly, Oregon's state tax credit covers up to $6,000 and can be used as a credit on your state tax payments.
Lastly, Oregon has made available renewable energy credits, which can generate tens of thousands of dollars of cash savings in addition to your utility bill savings. For more information on RECs, please see the next question!
*Dividend Finance does not provide tax or legal advice. Please consult your tax advisor for more information.
In Oregon, the typical solar energy system will produce between 8-10 megawatt hours of electricity each year, and every 1 megawatt hour of production also generates 1 Renewable Energy Credit ("RECs"). RECs can be sold to utility companies which allows them to meet their required quota of renewable energy production. It is very simple to sell RECs, and we offer an easy way to lock in REC payments for 5 or 10 years with a contract through one of our partners.
From a homeowner's perspective, Renewable Energy Credits are an additional source of savings that can add thousands of dollars of cash savings each year – on top of your utility bill savings! These RECs are a key driver of the economic benefits of going solar in Oregon, and help homeowners save money immediately.