2024 Solar Incentives Guide for North Bend, OR - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in North Bend.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2024 and beyond)
- Ways to optimize your solar investment
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What Solar Tax Credits, Incentives, and Rebates are Available in North Bend?
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 mitigate the cost of installing a solar panel system on your home. This category of financial incentives is designed to encourage more Americans to make the switch to renewable energy. These incentives might include cash back, upfront discounts or credit towards your monthly utility bill. Some incentives are provided by the federal government, some by the Oregon government and some by your specific utility company, county or municipality. Some broad categories of solar incentives include:
- Tax Exemptions: Sales tax exemptions are effective at the point of sale for your solar system. Property tax exemptions allow you to ignore the added value of your solar system when calculating the amount of property tax you need to pay on your house.
- Net Metering: Net metering becomes relevant after your solar panels are up and running. If you have in place a net metering agreement with your North Bend utility company, the company will subtract the value of the excess energy your solar system produces from your utility bill each month. In some locations, this credit is dollar-for-dollar, while in other areas you might make back a percentage of the value.
- Rebates: Solar rebates may be offered by your local utility company, or by your county or state. These rebates are essentially partial refunds that are applied after you purchase a solar system and before tax credits are calculated.
- Tax Credits: Tax credits are dollar-for-dollar reductions that lower the amount of income tax you owe the government. (This is different from a tax deduction.)
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
Federal solar incentives are probably the first thing that you think of when you think about solar incentives. The solar incentive that you're most likely to have heard of is the Federal Solar Investment Tax Credit (ITC), which provides a credit on your taxes equal to a percentage of the cost of your solar system.
The ITC is applied to the total cost of solar panel installation, including the panels themselves as well as equipment, accessories and labor. This credit can be claimed for panels installed after January 1, 2006, on a primary or secondary residence that you own, as long as it is located in the United States. The tax credit ranges from 26-30% of total costs depending on when your project was completed. There is no maximum claim amount.
To understand exactly how much money the ITC could save you, contact your local North Bend solar panel installer.
In August 2022, the ITC (now referred to as the Clean Energy Credit) was bolstered by the passing of the Inflation Reduction Act. The Clean Energy Credit has increased the current credit up to 30% for solar systems installed between 2022 and 2032. After this, the percentage will see a slight decrease annually until the program expires in 2035. Starting in 2023, the expansion to the program will also make claiming credit for energy storage systems easier than ever before.
Click here to learn more about the new Inflation Reduction Act. To understand how the new Clean Energy Credit will apply to you, speak with your local North Bend solar installation company.
State & Local Solar Incentives
Some solar incentives may be offered at the local or state level. Similar to federal incentives, these may include rebates, tax credits and more. Certain incentives are offered for only a limited time, while others are ongoing. These local incentives might come from the Oregon government, or from your specific county or municipality.
Next Steps for Installing Solar in North Bend
There are many types of solar incentives: those provided by local utility companies, those provided by the federal government and those offered by the Oregon government, to name a few. Solar energy use has grown enormously in the last 15 years, partially thanks to these incentives. Talking to your local North Bend solar panel installer is a great first step towards getting all the incentives you qualify for when you switch to solar energy.
EcoWatch's North Bend, OR Solar Incentives FAQs
If I already have solar panels, can I still claim incentives?
You should plan to talk to someone from the company that installed your solar system – or get in touch with a local North Bend solar installer — to clarify which incentives you may qualify for. If your solar panels were installed after January 1, 2022, you likely qualify for the newly increased 30% tax credit under the Inflation Reduction Act. Solar panels installed between 2006 and 2021 may qualify for a tax credit of 26-30%.
How much will a solar system save me on my electric bill in North Bend annually?
Typically, homeowners in North Bend who install solar panels save approximately $1,155.85 per year, or about $23,117.02 over 20 years after they make the switch.
Who installs solar panel systems near me?
To find the best solar panel installer in your area, check out our guide to the top solar companies in North Bend.
What are some of the environmental benefits of switching to solar energy?
Solar energy is renewable — by switching where you get your energy, you can help reduce the strain on our planet's resources. Solar panels can also reduce your home's CO2 emissions by 40 pounds yearly, or roughly 800 pounds in 20 years.
When does the federal solar tax credit end?
The Clean Energy Credit (formerly named the federal solar tax credit, or the ITC), currently ends on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.
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.