2024 Solar Incentives Guide for Lebanon, OR - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Lebanon.
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 Lebanon?
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
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 are meant to encourage people to switch to renewable energy by providing incentives that lower the financial burden of solar panel installation and use. You may qualify for different kinds of incentives, including cash back, discounts or credit towards your monthly utility bill, depending on your situation. Some incentives come from your specific utility company, county or municipality, some from the Oregon government and others from the federal government. Some broad categories of solar incentives include:
- Tax Exemptions: Your solar system may qualify for both sales tax and property tax exemptions. Sales tax exemptions come into effect at the time of purchase. Property tax exemptions allow you to exclude the value added by your solar panels when calculating property taxes on your home.
- Rebates: Some solar companies will 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 be deducted from your total price before any tax credits are calculated.
- 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.)
- Net Metering: Net metering is an incentive you can get after your solar panels are up and running. If you have in place a net metering agreement with your Lebanon utility company, the company will subtract the value of the excess energy produced by your solar system from your utility bill each month. In some locations, this is a dollar-for-dollar credit, while in other areas you might make back a percentage of the value.
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 hear the term "solar incentives," federal incentives might be the first thing that comes to mind. The solar incentive that you may be most familiar with is the Federal Solar Investment Tax Credit (ITC), which gives you a credit on your taxes equal to a certain percentage of the cost of your solar system.
The ITC can be applied to the total cost of installing solar panels, including the panels themselves as well as accessories, labor and equipment. 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. Originally set at 30% of total costs, the credit has fluctuated over time, and you may qualify for different amounts depending on when your project was completed. There is no maximum claim amount.
Your local Lebanon solar panel installer can offer more information about the ITC and how it may apply to your situation.
The Inflation Reduction Act, passed in August 2022, added more provisions to the ITC (as well as renaming it to the Clean Energy Credit). The Clean Energy Credit has increased the current credit up to 30% for solar installation projects started after January 1, 2022, and completed by the end of 2032. After this, the percentage will be reduced slightly each year until the program expires in 2035. Beginning in 2023, it will also be easier to qualify for credits for energy storage systems under the new laws.
More information about the new Inflation Reduction Act can be found here. Your local Lebanon solar panel company can answer any questions you have and explain how the new Clean Energy Credit applies to you.
State & Local Solar Incentives
There are more than just federal solar incentives; rebates, tax credits and more may be offered at the state and local level. Some incentives are ongoing, while others may only be available for a limited time. These incentives may be provided by the Oregon government, or by your county or municipality.
Next Steps for Installing Solar in Lebanon
The nationwide use of solar energy has significantly increased in the last 15 years, in part due to the increase in availability of solar incentives. You might receive these incentives from the Oregon government, the federal government or your local utility company. Speak with your local solar panel installation expert today to learn more and to save as much money as possible on a solar system for your Lebanon home.
EcoWatch's Lebanon, OR Solar Incentives FAQs
My home already has solar panels installed. Are there any incentives that I qualify for?
If your solar system was installed after January 1, 2022, you may qualify for the recently increased 30% tax credit under the Inflation Reduction Act. If you had your system installed between 2006 and 2021, you might qualify for a tax credit between 26% and 30%, depending on the year it was installed. Speaking with the company that installed your solar system, or any local Lebanon solar installer, can help you understand what incentives you can apply for.
How much can I save annually on my electric bill if I add solar panels to my house in Lebanon?
When you add solar panels to your home in Lebanon, you can expect to save around $1,094.17 per year, or about $21,883.45 over the next 20 years.
What are some environmental benefits of installing solar panels on my home?
You can decrease your carbon footprint by 40 pounds of CO2 a year when you install solar panels. This adds up to around 800 pounds in 20 years. Solar is also a renewable energy source, meaning that making the switch lessens the drain on our planet's resources.
Can I get any financial incentives when I add solar panels to a rental property, vacation home or commercial property?
Many solar incentives are intended to apply to a property located within the United States that you own; most secondary residences will fall into this category. There may be other solar incentives available for commercial properties, depending on the details. We recommend speaking with your local solar installer and/or tax professional to best 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.