New Year, New Tax Credit Amendments
Everything you (and your customers) need to know about decreases to the Oregon Residential Energy Tax Credit (RETC) that kick in on January 1, 2016
The Oregon Department of Energy recently announced RETC decreases to tax credit categories and qualifications for heat pump water heaters. Be sure to encourage your customers to take advantage of current RETC opportunities before the new rules go into effect on January 1, 2016.
2016 RETC Amendment Details
Starting January 1, 2016, Oregon RETC incentive amounts for heat pump water heaters will decrease to up to $600 for Tier 2 and greater models and up to $300 for Tier 1. The Tier 2 incentive amount of $985 and Tier 1 incentive of $585 are available for units purchased by December 31, 2015, and installed by March 31, 2016. Let your customers know they should consult a tax professional to determine eligibility.