Oregon’s updated Residential Energy Tax Credit (RETC) permanent rules have taken effect. The new rules include revised language governing tax credit applications for 3rd-party-owned systems. The new rules also raise the maximum number of tax credit reservations allowed per week from 25 to 50; provide that a 3rd party may not request more than 900 reservations between January 1 and September 30 annually; and provide that a 3rd-party owner may not request more than 1,300 total reservations annually. The Oregon Department of Energy will cease accepting 3rd-party applications once the $10 million annual reservation cap is reached.
In addition, the new permanent rules also lower the solar PV incentive from $1.90/W to $1.70/W in 2015, while maintaining the current credit limits of $6,000 or 50% of installed costs, and modify RETC pass-through eligibility to align it with Oregon’s personal tax credit for alternative energy devices and alternative fuel vehicles.