If you have a solar energy system installed by Bobcat & Sun Inc., you most likely qualify for an Oregon Residential Energy Tax Credit. As of March 1, 2009, federal law makers have removed the $2,000 cap for federal tax credits. Qualifying solar water heating systems can now claim 30% of the total system cost as a federal tax credit.
Solar Water Heating:
You can heat water for your home with a solar system and get a tax credit worth 60 cents per estimated kWh saved during the first year, up to $1,500. Solar pool heating systems are eligible for a tax credit similar to the solar water tax credit based on 15 cents per kWh saved, not to exceed 50 percent of the cost of the system or $1,500.
Solar Space Heating:
You can heat your home with a solar space heating system and get a tax credit of estimated kWh saved during the first year, up to $1,500. The system must meet at least a specific percentage of the total energy requirements for heating the home.
You can make electricity from the sun with a photovoltaic system and get a tax credit as well. Both grid-tied systems and off-grid systems qualify.
Federal Tax Credits:
30% of the cost of a qualifying system (no cap), can be used as a dollar for dollar federal tax credit.
$500 to $1,500 from PPL (through ETO), Northwest Natural/Cascade Gas (through ETO) paid directly to your solar contractor will lower your qualifying system cost by the same amount. Utility incentives, similar to the Oregon tax credit rely on the system OG-300 national certification for proof of expected performance.
$100 from Bobcat & Sun Inc. for the name of someone you know who is interested in a solar hot water system. If they install, we send you a check or have them call us and mention your name. If they install, we send you $100. This is for present or existing customers only.