Oregon’s Incentives on Energy Efficient Appliances Set to Expire
Posted on October 13, 2011 by Gordon Feighner
Tags, Climate and Conservation, Legislative & Political
During the summer, CUB Organizing Director Jeff Bissonnette posted an overview of the 2011 legislative session. Jeff reported that energy efficiency tax credits were mostly preserved under HB 3672, but also noted some changes. One of these changes is that the incentive for purchasing energy efficient appliances is about to expire for Oregon residents. The Residential Energy Tax Credit (RETC) provides state income tax credits for purchases of qualified home appliances. Earlier this year the state legislature, in an effort to reduce the costs of the program, implemented a number of changes that will take effect on January 1, 2012. The most prominent change is the elimination of tax credits for dishwashers, refrigerators, and clothes washers. These incentives range from $60 to $180 and will remain in effect until the end of the year.
While the Energy Trust of Oregon will continue to provide cash-back incentives for the purchase of qualified appliances, the upcoming changes to the RETC mean that now is a good time to replace old, inefficient appliances before the credit goes away. The Oregon Department of Energy has lists of qualified models of dishwashers, refrigerators, and clothes washers that are eligible for the tax credit. These incentives, when combined with the significant reduction in electricity used by the new appliances, essentially eliminate the price differential between inexpensive low-efficiency appliances and more expensive efficient ones.
The changes to the RETC don’t affect the incentives for electric and alternative fuel vehicles, solar energy systems, water heaters, furnaces, or other heating systems. Also, even if you do not have any tax liability for Oregon state income taxes, you can pass the savings on to any other Oregon resident with tax liability. The Department of Energy website has detailed instructions on how to share the tax credit. January 1st is right around the corner—start thinking about applying for the RETC now!
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03/27/17 | 0 Comments | Oregon’s Incentives on Energy Efficient Appliances Set to Expire