What is Solar Within Reach?
Solar Within Reach is a program through the Energy Trust of Oregon that provides incentives for income-qualified families. Adding a solar power system to your home can greatly reduce your energy bills, and this program is designed to help offset the costs of installing such a system, so you can reap the benefits without a big startup cost.
Over 15,000 Oregonians have already made the switch to clean solar energy, and on average, each homeowner saves about $125 per year for every four solar panels that they install on their home. Since most homes have anywhere from 15 to 20 panels, that results in an annual savings of over $600!
How Can I Participate?
In order to participate, you must be an Oregon homeowner and a customer of Portland General Electric or Pacific Power. To qualify, you must own one of the following types of residences:
Single-family home
Manufactured home
Floating home
Condo
Multifamily residence - attached side-by-side unit, duplex, triplex, or fourplex
You will also need to work with an Energy Trust-approved solar trade ally contractor who is participating in the Solar Within Reach program. Your solar contractor will confirm that your home is a good fit for solar energy, give you a bid for the project that shows your total cost both before and after incentives have been applied, provide an estimate of annual savings and energy generation, assist you with loan options, take care of solar permitting and paperwork, and ultimately install your solar energy system.
Finally, only certain income-qualified households are eligible to receive up to 60% cashback. Everyone else is limited to 40%.
Income Qualifications
Based on how many residents there are in your home, these are the maximum gross annual income amounts in order to be eligible for this incentive:
1 resident - $54,240
2 residents - $62,040
3 residents - $69,720
4 residents - $77,520
5 residents - $83,760
6 residents - $89,880
7 residents - $96,120
8 residents - $102,360
The cash incentive that you will receive from the Energy Trust varies based on the size of your solar energy system. You can receive up to $1.50 per watt, with a maximum total amount of $9,000 per home.
Other 2020 Oregon Solar Incentives
Portland General Electric & Pacific Power Cash Rebates
Portland General Electric and Pacific Power also offer cash rebates of between 20 and 25 cents per watt if you own your own solar energy system. Since most home solar energy systems are roughly 6,000 watts, this means you earn up to $1,500 in solar rebates for simply installing your system.
Federal Investment Tax Credit
The federal government established the Investment Tax Credit (ITC) in 2005, and it has been extended several times to provide tax credits to homeowners who install solar energy systems. For 2020, homeowners and business owners who install solar energy systems can deduct 26% of the total cost of your solar system from their federal tax liability.
In 2021, the percentage will drop to 22%, and there is not currently an incentive in place in 2022 and beyond. There is no cap on this incentive, and tax credit can be rolled over into the following years if you do not have enough tax liability.
Net Energy Metering in Oregon
Net energy metering is a program that allows you to save a lot of money by selling any excess energy that your solar energy system generates back to the grid. You will be compensated with credit towards your energy bill, which can be hugely beneficial as you can earn large credits during the long and sunny summer days and then apply those credits to your increased energy bills in the winter.
Solar + Storage Rebate Program (New!)
This new rebate offered by the Oregon Department of Energy can help further mitigate the cost of installing either a stand-alone solar energy system or a solar energy system plus a battery storage system. If your project qualifies, this rebate can cover up to 60% of the net system cost, up to a maximum of $5,000 for stand-alone solar energy systems and up to $7,500 for solar energy plus battery storage systems.
To qualify for this rebate, your site must meet the following requirements:
The solar energy system, as well as the battery backup system, must be installed on a property that is entirely within Oregon state lines.
An ODOE-approved contractor must be responsible for both purchasing and installing the entire project.
The solar energy project must earn at minimum a 75% Total Solar Resource Fraction, which is the percentage of sunlight your site receives throughout the year, taking into account the shade coverage, tilt, and orientation of your panels.
Frequently Asked Questions
Can I combine Solar Within Reach with other incentives?
Yes! If you invest in other energy-saving improvements for your home, you can receive other Energy Trust incentives. But, each improvement is only eligible for one incentive. Other incentives from outside sources may also be combined with Energy Trust incentives.
How much does solar cost after incentives?
This depends on how many solar panels you install, whether you choose to go with a battery storage system, and how many incentives are applicable. It’s always a good idea to get bids from several contractors for your project to get the best possible deal.
How do I determine my household gross annual income?
Your household’s gross annual income is the total amount earned by all residents of the home, before taxes and other deductions. This includes any type of income as defined by the IRS income tax return.
Who counts as a resident of my home?
Anyone who regularly sleeps at your home who is not a temporary guest will count as a resident, including children of a shared custody agreement.
Go Solar With Sunbridge Solar
At Sunbridge Solar, we are experts in the field and we will help you secure every possible incentive and rebate for your solar energy system installation. Contact us today to get started!