The economics look really good if you want solar electricity or hot water panels up on that roof in Oregon. Today I'm going to talk about the great rebate/tax credit environment for solar in Oregon, but I'd also like to mention a website where you can check out the available incentives in whichever state you live. Just go and check out http://www.dsireusa.org/. They list incentives for solar installation by state and the different kinds and amounts of incentives within your state. Check it out!
So, for lucky Oregon, beyond their state rebate program and the federal tax credit, they have a refund run by a non-profit called the Energy Trust of Oregon, paid for by a "public purpose" surcharge on utility bills with the following goal:
We began work on March 1, 2002, with a mission to change how Oregonians produce and use energy. Through innovative programs, the Energy Trust invests in efficient technologies and renewable resources that develop new sources of clean energy, help Oregonians lower their energy bills, stimulate the economy and protect the environment.
Using rough calculations, the net cost for solar installed after the state, federal and Energy Trust rebate comes out to about $4.00/watt in Oregon for a business after all rebates. To compare, in California the cost would be about $4.50/watt after rebates. So a 5 kW system in Oregon: about $20,000; in California: about $22,500. But both great deals, with both systems probably being completely paid off in less than 10 years, and then possibly 20 more years of free electricity.
Remember, now is still the best time we've ever had to buy solar, even with recent increases in silicon prices. It's ABSOLUTELY the best time for businesses to go solar with a shorter payback time than for residential.
My rallying call: if they can do it in the Northwest in Oregon, and Northeast in Massachusetts(see Saturday's post), all of us in between and south of these states should definitely follow their example.
Categories: solar, energy, green, sustainable, renewable, EconomicsOfSolar