Oregon has always been forward-thinking when it comes to energy efficiency and helping homeowners work toward having energy efficient homes has been a priority. Even though state tax credits are ending at the end of the year, don’t worry! It’s not too late to purchase and take advantage of the various credits that are out there. Simply pay in full by the end of 2017 and have your system installed by April 2018. Here is some helpful information on some of the tax credits that are available now.
According to a report out of the Congressional Research Service, in 2014, 22% of total energy consumed in the United States came from the residential area, and it continues to increase year after year. (1) Because of this large percentage of energy use coming from homeowners around the country, the government has worked to explore ways that we can save energy – this is how the Residential Energy Tax Credit Program began.
Right now, homeowners that purchase gas furnaces, heat pumps, or ductless heat pumps may be eligible for tax credits on their purchase. In addition, tax credits are available for other products around the home that can assist in saving energy.
Oregon Residential State Credits that are available:
-Save up to $492 on high efficient gas furnaces
-Save up to $1125 on a high efficient heat pump
-Save up to $1300 on a ductless heat pump (mini-split)
*Offers end on December 31, 2017 and systems must be fully operational by April 1, 2018. Check out our special offers page for all incentives available.
If you know you need a new system, now is the time to act so you can save money! And if you don’t have time to figure out what tax credits apply, let us help! Our experienced team of sales professionals can work with you to figure out which system is right for your home and one that fits in your budget. We’ll help you figure out the tax credit paperwork and help you with financing options if you need them.
Contact us today on information on what heat pumps, furnaces, and ductless heat pumps are eligible for tax credits so you can save money and stay comfortable as you go into 2018!
- Crandall-Hollic, Margot L., Sherlock, Molly F. “Residential Energy Tax Credits: Overview and Analysis.” Congressional Research Service. January 21, 2016. Accessed online December 7, 2017.