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New Year, New Tax Credit Amendments

Posted: Dec 09, 2015

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.

Motivate your customers to make the most of the RETC, along with potential utility incentives, before these changes take effect in the new year. Learn more >

What are Tiers?

Energy efficiency levels and features of heat pump water heaters vary by product tier. Higher tier products have greater efficiency and the more advanced product features.

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The higher the energy factor, the more efficient the water heater.