New income tax credit can give you thousands

J.R. Heimbigner

Would you like to have thousands of dollars more each year? If so, you'll definitely want to consider the government benefits you can receive by going using solar energy in Oregon. Solar energy lowers (or eliminates) your electric bill, raises your home value, reduces your carbon footprint, and even earns you money back on your investment. (source) Let's look closer at the details.

Federal Tax Credit can save you a ton of money

A tax credit from the federal government helps to offset the cost of installing a solar in Oregon. According to the United States Department of Energy Efficiency and Renewable Energy, Congress passed an extension of the ITC, which provides a 26% tax credit for systems installed in 2020-2022, and 22% for systems installed in 2023. Best of all, there is no maximum amount that can be claimed.

According to Solar Oregon, the combination of utility incentives, federal tax credits and accelerated depreciation, mean that between 65-80% of the total costs are covered to install and own solar in Oregon.

Imagine never paying for another electric bill

Consider that solar energy lowers (or even eliminates) your electric bill too. With the average household paying over $1,400 on energy in Oregon, you will save even more by going solar. You can even make money on your initial investment as you pay off the cost of installation.

Would you consider going solar?

Why or why not?Feel free to share your thoughts in the comments.

Disclaimer: Please be aware that this article is only for educational and informational purposes.

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