2024 Solar Incentives Guide for Coos Bay, OR - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Coos Bay.
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 Coos Bay?
Solar Electric Incentive Program
Solar + Storage Rebate Program
Renewable Energy Systems Exemption
Columbia River PUD - Solar PV Net Metering Rebate
State Energy Loan Program
New Homes Incentive Program
Solar ready incentive: up to $200
Custom Renewable Energy Projects
Central Lincoln People's Utility District - Renewable Energy Incentive Program
Solar Water Heating: $800/system
Hydro Electric: $0.05/kWh/Yr
Central Lincoln People's Utility District - Residential Energy Efficiency Rebate Programs
Clothes Washer: $50
Clothes Dryer: $50
Smart Thermostat: $100
Light Fixture: $5/fixture
Heat Pump Water Heater: $300 - $500
Home Heating
Heat Pump: $500 - 1,400
Heat Pump Controls: $300
PTCS Duct Sealing: $200 - $250
Ductless Heat Pump: $750 - $1,000
Weatherization
Energy Star Windows: $3/sq. ft.
Energy Star Doors: $40/door
Attic Insulation: $0.20 - $0.60/sq. ft.
Floor Insulation: $0.30/sq. ft.
Wall Insulation: $0.50/sq. ft.
Energy Star Manufactured Homes: $1,200 - $1,400
Renewable Energy
Solar Thermal: $800/systemResidential Solar Electric: $500/kWDCCommercial Solar Electric: $500/kWDCWind Electric: $500/kWDCMicro Hydro Electric: $0.05/kWh/Yr
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives are designed to encourage homeowners to switch their home over to renewable energy by providing financial incentives that lower the burden of solar panel installation and use. You might qualify for different types of incentives, such as discounts, cash back or monthly utility bill credits, depending on your situation. Certain incentives come from your specific utility company, county or municipality, some from the state of Oregon and others from the federal government. Some solar incentives you might qualify for are:
- Tax Credits: Tax credits are dollar-for-dollar reductions that lower the amount of income tax you owe the government. (A tax credit is different from a tax deduction.)
- Rebates: Your solar installer might help you claim a rebate, or partial refund of your purchase, for your solar panels. Counties or states will also sometimes offer limited-time rebates. The value of a rebate will usually come off your total price before tax credits are calculated.
- Net Metering: Net metering factors in after your solar panels are up and running. If you have a net metering agreement with your Coos Bay utility company, the company will subtract the value of the excess energy produced by your solar system from your monthly utility bill. In some areas, this is a dollar-for-dollar credit, while in others you may get refunded a percentage of the value.
- Tax Exemptions: Your solar panels might qualify for both sales tax and property tax exemptions. Sales tax exemptions are applied at the time of purchase. Property tax exemptions let you ignore the added value of the solar panels when you are calculating property taxes on your house.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 you think about solar incentives, you probably think of federal incentives first. A federal incentive that most people are probably familiar with is the Federal Solar Investment Tax Credit (ITC). The ITC is a tax credit for a specific percentage of the cost of your solar system.
The ITC can be applied to the total cost of solar panel installation, including the panels themselves as well as labor, equipment and accessories. You can claim this credit for panels installed after January 1, 2006, on a primary or secondary residence that you own and that is located in the United States. From its original value of 30% of the total cost, the credit has fluctuated slightly between 26-30%, and you may qualify for varying percentages depending on when your project was completed. There is no maximum amount you can claim.
Have questions about how the ITC applies to your specific situation? Get in touch with your local Coos Bay solar panel installer to get more information.
The Inflation Reduction Act, passed in August 2022, added more provisions to the ITC (as well as retitling it the Clean Energy Credit). The Clean Energy Credit has increased the current credit up to 30% for solar systems installed between 2022 and 2032. At this point, the percentage will be reduced slightly each year until the end of the program in 2035. Starting in 2023, it will also be easier to claim credits for energy storage systems under this new program.
More information about the new Inflation Reduction Act can be found here. Your local Coos Bay solar panel installation experts can answer any questions you have and explain how the new Clean Energy Credit will apply to you.
State & Local Solar Incentives
There are more than just federal solar incentives; rebates, tax credits and more might also be offered at the state and local level. Some incentives are ongoing, while others are available for a limited time. Solar incentives may be offered by your county or municipality, or by the Oregon government.
Next Steps for Installing Solar in Coos Bay
Solar incentives may come from the Oregon government, the federal government or your local utility company. The variety of incentives available has helped nationwide use of solar energy increase greatly in the last 15 years. When you're prepared to switch over to solar energy, calling your local Coos Bay solar panel installation expert is a great first step.
EcoWatch's Coos Bay, OR Solar Incentives FAQs
If my house already has solar panels, can I still claim incentives?
An excellent idea would be to talk to someone from the company that installed your solar panels – or call a local Coos Bay solar installer — to learn about which incentives you might qualify for. If your solar panels were installed after January 1, 2022, you likely qualify for the recently increased 30% tax credit under the Inflation Reduction Act. Systems installed between 2006 and 2021 may qualify for a tax credit of 26-30%.
When does the federal solar tax credit end?
The Clean Energy Credit (previously referred to as the federal solar tax credit, or ITC), is slated to end on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.
If I trade in my appliances for ones that can use solar energy, are there any benefits that I can claim?
Under the new Inflation Reduction Act, there are several new financial incentives for making eco-friendly improvements to your home. More details on these incentives, including information about incentives for purchasing new appliances, can be found here.
Can I use a combination of solar and another type of renewable energy to power my home?
You can use multiple types of renewable energy, or a combination of renewable and non-renewable energy, to power your home. Be sure to talk through your ideas with your local Coos Bay solar installer. They can help you plan your project and educate you on the various incentives that you might or might not qualify for.
Can I claim incentives for adding solar panels to a vacation home, rental property or commercial property?
Many solar incentives are intended to apply to a property located within the United States that you own; most secondary residences fall into this category. 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 better understand what incentives will 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.