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Tax Credits

Oregon State Tax Credits

When you choose to upgrade your home with Green Savers, you are making the right choice for the environment as well as a sound financial investment in your home. Green Savers is tax-credit certified by the Oregon Department of Energy. Most home owners are eligible for the Oregon Residential Tax Credit, which allows an Oregon resident to deduct the amount paid for completed work against taxes owed on the Oregon income tax filings. Any unused portion can be carried forward for up to five years. (It is not a rebate and you will not receive cash back if your tax credit is more than your tax liability.

Oregon residents are allowed a maximum of:

$250 in tax credits for duct sealing and duct testing;

$1,000 in tax credits for qualifying appliances, heating and cooling equipment, and services installed per residence per year;

$1,500 for qualifying solar photovoltaic (solar electric) systems per residence per year;

$1,500 for qualifying renewable resource installations per residence per year; and

$1,500 for qualifying hybrid and alternative fuel vehicles per vehicle.

Federal Tax Credits

Federal Tax Credits for Energy Efficiency were passed into legislation for 2011. Homeowners who have made energy saving improvements to their homes for the calendar year of 2011 will be able to take advantage of the Federal Tax Credits for Energy Efficiency. Costs will be treated as being paid when the original installation of the item is completed, or in the case of costs connected with the construction or reconstruction of your home, when your original use of the constructed or reconstructed home begins.

The maximum amount a homeowner can receive in home improvement Federal Tax Credits for Energy Efficiency for 2011 is $500.

Credited work includes:

Insulation

Replacement windows

Non-solar water heaters

Certain high efficiency heating and cooling equipment.

For more information, and for details on solar, heat pumps, boilers, or main air circulating fans used in natural gas, propane or oil furnances, visit the Energy Star website.

What is a Tax Credit?

You don’t receive an income tax credit at the time you purchase a product, like an instant rebate. You claim the credit on your Oregon State income tax form and Federal Income Taxes at the end of the year when you file your taxes. The credit will increase the tax refund you receive or decrease the amount you owe on your State and Federal taxes.

Tax Credit vs. Tax Deduction

There is an important difference between a tax credit and a tax deduction. A tax deduction is subtracted from income before total tax liability is computed. On the other hand, a tax credit is subtracted directly from the total tax liability. This means that a deduction and a credit have very different values -- a credit is three or more times advantageous to the taxpayer than a deduction. For example, a tax credit of $500 for someone in the 28% tax bracket is equivalent to a tax deduction of $1,785.

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Rebates

Green Savers is the leading Home Performance Contractors in Central Oregon specially trained and qualified to perform the Oregon Home Performance with ENERGY STAR® test. Using a "whole house approach," our contractors look at all the components of your home -- heating/cooling equipment, insulation levels, air infiltration, windows/doors—and show you exactly how to maximize energy efficiency. Only contractors certified and accredited by the Building Performance Institute (BPI) using the Oregon Home Performance with ENERGY STAR® technical standards can be a part of Home Performance with ENERGY STAR®. With advanced building science principles and diagnostic equipment, strict standards are met to test and treat your home for greater performance, comfort, health and safety.

As a trade ally contractor of the Energy Trust of Oregon, we can help with the various incentives and Oregon Residential Energy Tax Credits that you will receive when you improve the energy efficiency of your home.

Rebating Entities for Central Oregon Residents:

Energy Trust of Oregon ~ Residential customers qualify for Energy Trust of Oregon Rebates if they are Pacific Power or Cascade Natural Gas customers.
Central Electric Co-Op
Mid-State Electric Co-Op
SHOW Program

Greensavers

Tax Credits

Oregon State Tax Credits

Federal Tax Credits

Rebates