Oregon Renewable Energy Tax Credit

Oregon House Bill 4079 clarifies provisions governing renewable energy tax credits. The law clarifies provisions governing the transportation credit, including how it is claimed over five years, the definition of a “transportation project,” and direction on how the Department of Energy is to manage the credit cap. Technical clarification to the residential energy tax credit is made, such as allowing third-party installers to “reserve” tax credits. In addition, the biomass credit is limited to one tax credit per unit of biomass and the program cap is removed. The law clarifies the expiration date of pre-certifications under the old business energy tax credit program, which was replaced with three separate credits: a conservation credit, a renewable energy contribution credit, and a transportation credit.