Oregon Passes Solar Tax Credit
Oregon Governor Ted Kulongoski signed Senate Bill (SB) 31 on September 2 that includes a tax credit for solar power systems on homes. SB-31 allows homeowners and businesses that install a solar power system to credit their income taxes for $3 per watt (W) of peak capacity, up to 2,000 W, which is worth $6,000. The total amount of the credit cannot exceed 50% of the total cost of system. The amount of the credit is limited to $1,500 per year, but credits can be carried forward for up to five years.
The Oregon Department of Energy will certify the systems in order for homeowners to take the tax credit, which is in effect from 2005 until 2016. The Oregon Department of Energy publishes an online list of the state's residential energy tax credits.