Tax credits reduce the amount of tax owed, dollar for dollar. They are also as good as cash for a tax refund.
Federal Energy Investment Tax Credit (FITC)
The Federal Energy Investment Tax Credit (FITC) is a 30% tax credit calculated on the system’s costs. This tax credit can be taken in year one, or carried forward a maximum of 20 years. Receiving the FITC is as simple as the client, or client’s accountant, filling out the appropriate IRS form.
Oregon Department of Energy
Oregon Department of Energy competitive, performance-based grants may be available. Applications are being reviewed biannually, in April and November. Contact True South Solar for specific details.
USDA Rural Energy for America Program (REAP)
The USDA’s Rural Energy for America Program (REAP) Renewable Energy System and Energy Efficiency Improvement Guaranteed Loan and Grant Program provides financial assistance to agricultural producers and rural small businesses to purchase, install, and construct renewable energy systems.