Residential Energy Tax Credits

Have you bought an energy saving appliance or home system that should give you a credit on your Oregon tax return? If you didn't get a postcard certificate with the actual amount of the tax credit in the mail, then you haven't received the credit yet. We can not accept the receipt of payment for the appliance, we must see the actual credit certification. Please see the link and information below if you would like to finalize your energy saving credit and receive the certification in the mail.

Residential Energy Tax Credits

Who can get the tax credit?
Homeowners and renters (if you own the appliance or system) can apply. You must be an Oregon resident. The qualifying equipment must be used in the home you live in (your primary residence) or in your secondary (vacation) home located in Oregon. Vehicles must be registered for use in Oregon to qualify for a tax credit.

What qualifies?
The Oregon Department of Energy maintains lists of qualifying equipment, systems and services for the Residential Energy Tax Credit program. Only items eligible at the time of purchase qualify. You must the owner of the eligible equipment and the equipment must be new (original use must begin with you).

It is important to note that appliances and equipment labeled as energy efficient by the federal Energy Star^TM program are not always eligible for the state Residential Energy Tax Credit program. In most cases, the state program has higher standards than Energy Star^TM or incentive programs offered by the Energy Trust of Oregon or utility companies.

You must apply and be approved before taking the credit on your Oregon income taxes. Don't wait, send your application to us as soon as your appliance, heating or water heating system is installed. You can save time by applying online for appliances and water heaters. See the bottom of this page for more information about tax credit eligibility and the application process.

How much is the tax credit?
The tax credit amount for qualifying equipment or systems is based on the energy saved and the cost of the equipment. The maximum tax credit for each item is the amount listed on the Oregon Department of Energy qualifying list or 25 percent of the eligible net purchase cost, whichever is less.

www.mbtaxpro.com
Erin Murphy
David Bixel
MB Tax Professionals
Portland, OR 97210