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Oregon

Oregon

Incentives/Policies for Renewables & Efficiency

Printable Version
Tax Credit for Renewable Energy Equipment Manufacturers   

Last DSIRE Review: 01/14/2013
Program Overview:
State: Oregon
Incentive Type: Industry Recruitment/Support
Eligible Renewable/Other Technologies: Solar Water Heat, Solar Space Heat, Photovoltaics, Wind, Biomass, Geothermal Heat Pumps, Solar Pool Heating, Small Hydroelectric, Tidal Energy, Wave Energy
Applicable Sectors: Commercial, Industrial
Amount:50% of eligible costs (10% per year for 5 years)
Maximum Incentive:$20 million
Expiration Date:1/1/2014
Web Site: http://www.oregon4biz.com/The-Oregon-Advantage/Incentives/Busines...
Authority 1:
Date Enacted:
ORS 315.341
6/23/2011
Authority 2:
Date Enacted:
ORS 285C.540 et seq.
6/23/2011
Summary:

The Tax Credit for Renewable Energy Resource Equipment Manufacturing Facilities was enacted as a part of Oregon's Business Energy Tax Credit (BETC) in July 2007, with the passage of HB 3201. While BETC is no longer available, the manufacturing portion of the tax credit is still available.  The tax credit equals 50% of the construction costs of a facility which will manufacture renewable energy systems, and includes the costs of the building, excavation, machinery and equipment which is used primarily to manufacture renewable energy systems. The credit may also be applied to the costs of improving an existing facility which will be used to manufacture renewable energy systems. The 50% credit is taken over the course of five years, at 10% each year. The original maximum credit of $10 million was expanded to $20 million (50% of a $40 million facility) upon the enactment of HB 3619 in March 2008. This legislation clarified the manufacturing credit and separated the revenue stream from the rest of BETC.

The credit applies to companies that manufacture systems that harness energy from wood waste or other wastes from farm and forest lands, non-petroleum plant or animal based biomass, the sun, wind, water, or geothermal resources. Prior to construction, a business must participate in a pre-screening process with the Oregon Business Development Department. In addition to this preliminary review, the manufacturing facility must apply for final certification. Another review required for manufacturing facilities is a financial feasibility review. The Oregon Business Development Department may establish other rules to govern the type of equipment, machinery or other manufactured products eligible for this credit, as well as minimum performance and efficiency standards for those manufactured products. The passage of HB 3680 in March 2010 set a sunset date for the tax credit. Renewable energy equipment manufacturing facilities must receive preliminary certification before January 1, 2014 in order to use the tax credit.


 
Contact:
  Donna Greene
Oregon Business Development Department
775 Summer Street NE
Suite 200
Salem, OR 97302
Phone: (503) 986-0116
Fax: (503) 581-5115
E-Mail: Donna.L.Greene@state.or.us
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.