2024 Solar Incentives Guide for Eugene, OR - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Eugene.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2024 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
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What Solar Tax Credits, Incentives, and Rebates are Available in Eugene?
Solar + Storage Rebate Program
Renewable Energy Systems Exemption
Columbia River PUD - Solar PV Net Metering Rebate
State Energy Loan Program
Lane Electric Cooperative - Residential Efficiency Rebate Program
Heat Pumps (includes geothermal): $500 or a 0% loan up to $9,000
HVAC Repairs: 25% of cost, up to $1,000
Energy Star Heat Pump Water Heaters: $200 - $400
Solar water heater: $500
Solar PV: $0.5/watt, up to $1,000
EWEB - Solar Electric Program (Rebate)
Lane Electric Cooperative - Residential Energy Efficiency Loan Programs
Heat Pump (must have a minimum HSPF of 9.0 and a SEER rating of 14.0): loan up to $9,000 OR $500 rebate
HVAC duct sealing and whole house air sealing(Vinyl window replacements, ceiling, floor, and wall insulation, HVAC duct sealing and repair, door and window caulking, weather-stripping, and general air sealing): up to $1,000
Lane Electric Cooperative - Residential and Commercial Weatherization & Energy Efficiency Program
Heat Pump: $500
Qualifying Ductless Heat Pump: up to $3800
Heat-Pump Water Heater: $200 - $400
Weatherization Cash Grant: 25% of total measure cost up to $1,000
Low Income Weatherization Cash Grant: up to $1500
Solar Photovoltaics Rebate: $0.50/Watt, up to $1,000
Consumers Power, Inc - Residential Energy Efficiency Rebate Program
Duct Sealing: $250
Insulation: 25% of cost up to $500
Heat Pumps: $500 (Upgrades); $2,000 (New)
Heat Pump Commissioning and Controls: $300
Ductless Heat Pumps: $500 - $1,000
Marathon Water Heater: $749 - $1,359
Heat Pump Water Heater: $300 - $600
Low Flow Shower Heads: Free
Clothes Washers: $30
Clothes Dryer: $50
Smart Power Strips: Free
LED Light bulbs: discounts vary
Smart Thermostat: $100
Energy Star New Home: $1,200
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives mitigate the cost of installing solar panels on your home. These financial incentives are intended to encourage more Americans to convert their home partially or fully to renewable energy. Solar incentives might include upfront discounts, cash back or credit towards your monthly utility bill. Some incentives are provided by the federal government, some by the state of Oregon and some by your utility company, county or municipality. Categories of solar incentives include:
- Net Metering: You can sign a net metering contract with your Eugene utility company. This agreement may apply to all or a percentage of the excess electricity your solar panels generate. They will then subtract this value from your monthly utility bill.
- Rebates: Your solar installer might help you claim a rebate, or partial refund after purchase, for your solar system. States or counties will also offer limited-time rebates at various times. If you receive a rebate, that amount will usually come off your total price before any tax credits are calculated.
- Tax Credits: Tax credits lower, dollar-for-dollar, how much income tax you owe the government. These are different from tax deductions.
- Tax Exemptions: Your solar system might qualify for exemptions on both sales and property tax. Sales tax exemptions come into effect at the time of purchase. Property tax exemptions allow you to exclude the value that solar panels add when you are calculating property taxes on your house.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
Federal Solar Incentives
When thinking about solar incentives, federal incentives are likely the first thing that comes to mind. The Federal Solar Investment Tax Credit, or ITC, is likely the most well-known federal solar incentive. The ITC provides you with a tax credit for a set percentage of your solar system's cost.
The ITC was originally for 30% of the cost of installing a solar system, although that number has fluctuated slightly over the years between 26-30%. The percentage you qualify for will depend on when your solar system was installed. The total installation cost includes the panels themselves as well as the cost of accessories, labor and equipment. There is no maximum claim amount. The ITC can be applied to solar panels installed after January 1, 2006, on your primary or secondary residence. The residence must be owned by you and in the United States.
Your local Eugene solar panel installation expert can provide more information about the ITC and how it might apply to your situation.
The ITC was both renewed and expanded by the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. The new Clean Energy Credit now runs until 2035. You can now apply for a 30% credit for solar systems installed between January 1, 2022, and December 31, 2032. This credit will then decrease annually until the date of expiration. The program expansion also makes claiming credit for energy storage systems easier than ever before, beginning in 2023.
More information about the new Inflation Reduction Act can be found here. Your local Eugene solar panel installation experts can answer any questions you have and explain how the new Clean Energy Credit may apply to you.
State & Local Solar Incentives
There are often state solar incentives available in addition to federal ones. Tax credits, rebates and more can be offered at a more local level. These incentives — which may be given by the state of Oregon, or by your county or municipality — might be offered for only a limited time, or on an ongoing basis.
Next Steps for Installing Solar in Eugene
You can receive solar incentives from the federal government and the Oregon government, as well as from your local utility company. The increased availability of solar initiatives over the last 15 years has helped increase solar adoption nationwide. Contact your local solar panel installer today to find out more information and to save the most money possible on a solar system for your Eugene home.
EcoWatch's Eugene, OR Solar Incentives FAQs
How much will a solar system save me on my electric bill in Eugene annually?
Generally, Eugene homeowners who install solar panels save about $1,128.73 per year, or approximately $22,574.51 over 20 years after they make the switch.
What are some environmental benefits of installing solar panels on my house?
Solar energy is a renewable energy source — by changing where you get your energy, you can help reduce the strain on our planet's resources. A solar system can also lower your home's CO2 emissions by 40 pounds yearly, or roughly 800 pounds over 20 years.
How long until the federal solar tax credit ends?
The federal solar tax credit, previously called the ITC and now called the Clean Energy Credit, is slated to end on January 1, 2035. The current 30% credit will end in 2032, replaced by a 26% credit in 2033 and a 22% credit in 2034.
Can I use multiple types of renewable energy to power my home?
Yes, you can utilize multiple types of renewable energy to power your home, such as a combination of solar and wind power. You can also use both renewable energy sources and a backup source of non-renewable energy. Make sure that you discuss your proposed plan with your local Eugene solar panel installer, so that you understand what you'll need and what kinds of incentives you will or won't qualify for.
Can I claim incentives for adding solar panels to a rental property, vacation home or commercial property?
Many solar incentives apply to a property you own that is located within the United States, and most secondary residences fall under this distinction. Other solar incentives may be available for commercial properties, depending on the specifics. We recommend speaking with your local solar installer and/or tax professional to fully understand what incentives apply to your specific situation.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.