3 Things to Know about Oregon’s Solar Power Program
The goalposts for solar power incentives are continuously on the move. Find out how the recent changes to Oregon’s solar power program could affect you.
There are many reasons why homeowners are switching to solar power. You’ll reduce your electricity bill significantly, but solar power offers additional benefits.
Switching to solar power can even land you a big tax break and increase your home’s resale value.
If you live in Oregon, there’s a great reason why you should switch to solar power.
Oregon residents receive some great perks when switching to solar power, such as a great tax credit. But it’s important to become educated on solar power and what switching to solar power means for Oregon homeowners.
Here are 3 important facts about Oregon’s solar power program.
1. Increase in Residential Incentive
Solar power saves on your energy bill, but Oregon will pay you for using solar power.
At the beginning of 2018, the state of Oregon will offer residential incentives on installation costs. These are as high as 55 and 60 cents per wattage (W).
Other factors that determine your incentive include budget, volume, installation cost, and current market conditions.
These standards also vary between residential and commercial properties. Check with your electric company for your incentive amount.
Keep in mind, this incentive only applies to homeowners who have not applied for a Residential Energy Tax Credit (RETC).
2. You Can Pay Upfront or Lease
Purchasing solar power in Oregon is ideal for anyone, no matter the state of your finances. You can pay for the installation upfront. Or, you can lease your panels.
But leasing may be even more beneficial for any homeowner, especially if you have good credit. Because of the tax credit (RETC), you’ll spend little of your own money on the lease.
You also have a PPA option or power-purchase agreement. You pay monthly fees to the solar company, based on the energy the panels produce. This way, you still pay less than what you paid for electricity.
3. Oregon has the Best Solar Carve-Out
Oregon is an RPS state, or renewable portfolio standard. This means RPS states have to get a percentage of their power from renewable resources. RPS states also need a solar carve-out to ensure their power is coming from the sun.
If you’re concerned about Oregon’s solar power program’s effective, no need to fret — Oregon has the best solar carve-out in the whole country!
In short, this means Oregon is very ripe for solar power. Because of this, Oregon is the second-most state with the cheapest energy prices.
Save Money with Oregon’s Solar Power Program
With the sun shining over beaver state, Oregon has plenty of sun for effective solar power.
This means you’ll receive a cheap electricity bill. Solar powered homeowners also qualify for tax credits and cash incentives, making the benefits even better.
With great savings and even better power performance, you’ll be glad you switched to solar power.
Do you need solar power installation? Get started with us.