New Year, New Tax Credit Rates
Everything you (and your customers) need to know about amendments to the Oregon Residential Energy Tax Credit (RETC) that go into effect on January 1, 2016
The Oregon Department of Energy recently announced RETC amendments to tax credit categories and qualifications for ductless heating and cooling systems.
2016 RETC Amendment Details
Starting January 1, 2016, ductless systems will require a minimum HSPF of 10.0 in order to qualify for the Oregon RETC. Models with an HSPF of 10.0 to 11.9 will still qualify for an incentive of up to $1,200, and systems of 12.0 and higher will still qualify for up to $1,300. The incentive for systems with an HSPF of 9.0 to 9.9 expires after December 31, 2015.
Be sure to communicate these changes, along with potential utility incentives, to your customers. Let your customers know they should consult a tax professional to determine eligibility.