Federal Tax Credit Incentive
All of our customers qualify for the 30% U.S. Federal Tax Credit (ITC). A tax credit is a dollar-for-dollar reduction in the income taxes that a person or company would otherwise pay the federal government. The ITC is based on the amount of investment in solar property. Both the residential and commercial ITC are equal to 30 percent of the basis that is invested in eligible solar property. We always recommend consulting your tax professional for your specific situation.
How do I claim the Solar Federal Tax Credit?
To claim the federal solar tax credit, you will fill out form 5695 when doing your federal taxes. If you get a system through National Solar you receive a binder manual that includes last years 5695 form and more information on how to claim your tax credit as well as information on your system. Want to see a draft from the IRS now? View the IRS Form 5695 here.
Oregon Solar + Storage Rebate
The Oregon Solar + Storage Rebate Program issues rebates for solar electric systems and paired solar and storage systems for residential customers and low-income service providers in Oregon. Rebates are issued to approved contractors, who pass the savings on to their customers. National Solar has exceeded the Energy Trust of Oregon standards for incentives and installation requirements since 2009, and is an approved contractor. You can learn more about Oregon Solar + Storage Rebate Program here.
How do I claim the Oregon Solar + Storage Rebate?
Beginning July 20, 2023, the State of Oregon has released 5 million dollars in funding for the Oregon Solar Rebate Program. Contact National Solar today to learn more about going solar for your home in Oregon and how you can take advantage of these incentives.
What is Net Metering in Oregon?
Oregon offers net-metering for customer-owned renewable energy generation. This means that all solar electricity produced that is not used at time of generation will be fed back to the utility grid, so that your excess power can be used by others. Solar owners don’t have to pay for the power they use and the excess power builds up credits that can be used toward darker winter months. Credits and programs vary based on your local utility.
Oregon Solar Incentives Summary
Here are the key takeaways from this page:
- What is the U.S. Federal Solar Tax Credit (ITC), and who qualifies for it?
The U.S. Federal Solar Tax Credit, also known as the Investment Tax Credit (ITC), offers a 30% tax credit for both residential and commercial customers investing in eligible solar energy properties. This tax credit is a dollar-for-dollar reduction in the income taxes that a person or company would owe to the federal government. It's based on the amount of investment in solar property, and all customers of National Solar qualify for this benefit. The percentage of the tax credit is 26% for systems installed in 2021, and 30% for systems installed from 2022 through 2032. We recommend consulting with a tax professional to understand how this applies to your specific situation.
- How can I claim the Federal Solar Tax Credit?
To claim the Federal Solar Tax Credit, you need to fill out IRS Form 5695 when doing your federal taxes. National Solar provides its customers with a binder manual that includes the previous year's Form 5695 and detailed information on how to claim your tax credit, along with specifics about your solar system. For immediate access, the IRS Form 5695 is available on the IRS website.
- What is the Oregon Solar + Storage Rebate Program, and how does it work?
The Oregon Solar + Storage Rebate Program offers rebates for installing solar electric systems and paired solar and storage systems for residential customers and low-income service providers in Oregon. Rebates are provided to approved contractors, like National Solar, who then pass the savings on to their customers. National Solar meets and exceeds the Energy Trust of Oregon's standards for incentives and installation requirements and can help you navigate and benefit from these rebates.
- How can I take advantage of the Oregon Solar + Storage Rebate
To benefit from the Oregon Solar + Storage Rebate, contact National Solar. Beginning July 20, 2023, the State of Oregon allocated $5 million to fund this program. National Solar can guide you through the process of going solar in Oregon and help you maximize these incentives for your home.
- What is net metering, and how does it work in Oregon?
Net metering in Oregon allows homeowners who generate their own solar electricity to feed any excess power they don't use back into the utility grid. This system helps solar owners not only to reduce their own electricity bills to nearly zero but also to earn credits that can offset energy costs in less sunny months. These credits and the specifics of the net metering program vary based on your local utility provider. For a personalized estimate and more information on how net metering can benefit you, contact National Solar.
For detailed inquiries and to explore how solar energy solutions can be tailored to your specific needs, don't hesitate to reach out to National Solar. Our team is ready to provide you with a customized estimate and answer any questions to ensure you fully benefit from federal and state solar incentives.