The Oregon Department of Energy (ODOE) periodically releases Opportunity Announcements for tax credits for energy conservation projects. Check ODOE's website for announcements and complete information.
Energy conservation projects include projects with investments for which the first year energy savings yields a simple payback period of greater than three years. Categories for solicitations include: Commercial Buildings; Renewable Thermal; Commercial, Agricultural and Industrial Processes; and Combined Heat and Power. Projects must intend to begin construction within 12 months of the award. Tax credits are worth up to 35% of the project costs. The tax credit is claimed over five years, with 10% of the project costs claimed in the first two years and 5% claimed in the following three years. An applicant may claim the entire credit in the first year if the project costs are less than $20,000, or may request a credit of less than 35% in order to receive more points towards the competitive review criteria.
Qualifying project costs include:
Interested parties must submit a preliminary certification application. Projects that are determined to meet all qualifications and deadlines will be reviewed as part of a competitive process. Preference is given to those projects that have the highest energy savings over the five-year credit allowance period per tax credit dollar. Other review criteria may include:
Projects that advance beyond the competitive process must undergo a technical review before receiving final certification. ODOE may require a performance agreement as part of the final tax certification, and projects with over $1 million in funding may be required to annually recertify the tax credit. Check the program web site for Opportunity Announcements and associated application materials and requirements.
Under the Energy Incentives Program, tax credits may be transferred to a pass-through entity. The specific rules that govern that process may be found in the administrative rules or in the relevant opportunity announcement. Current rulemakings and recent revisions to the program may be found here.
|Incentive Type:||Personal Tax Credit|
|Administrator:||Oregon Department of Energy|
|Eligible Renewable/Other Technologies:||
|Incentive Amount:||Varies by project|
Up to 35% of qualifying project costs
The sum of all incentives, grants, credits, or other public funds may not exceed total project costs
|Equipment Requirements:||First year energy savings must yield a simple payback period of greater than 3 years.|
|Technologies:||Solar Water Heat, Geothermal Electric, Solar Thermal Electric, Biomass, Geothermal Heat Pumps, Water Heaters, Chillers, Furnaces, Boilers, Heat pumps, Air conditioners, Compressed air, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows, Doors, Siding, Roofs, Processing and Manufacturing Equipment, Agricultural Equipment, Comprehensive Measures/Whole Building, Custom/Others pending approval, Yes; specific technologies not identified|
|Sectors:||Commercial, Industrial, Local Government, Nonprofit, Schools, State Government, Tribal Government, Agricultural, Institutional|
|Parameters:||The incentive has a minimum of 35.00 % of cost|
|Name:||OAR 330-210-0000 to 330-210-0150|
|Name:||Public Information Officer - ODOE|
|Organization:||Oregon Department of Energy|
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