$20 Million Tax Credit for Energy-Related Projects

Oregon’s Business Energy Tax Credit (BETC) is for investments in energy conservation, recycling, renewable energy resources, sustainable buildings, and less-polluting transportation fuels. Any Oregon business may qualify, including but not limited to, manufacturing plants, stores, offices, apartment buildings, farms, and transportation. The tax credit can cover costs directly related to the project, including equipment cost, engineering and design fees, materials, supplies and installation costs. Loan fees and permit costs also may be claimed. However, replacing equipment at the end of its useful life or equipment required to meet codes or other government regulations are not eligible. Maintenance costs are also not eligible. All projects must meet the BETC technical requirements to qualify.  Tax credits are available for 50% of eligible project costs, distributed over five years (10% per year).  Maximum incentives are $20 million for renewable energy equipment manufacturing facilities and $10 million for other projects.  This is a wide varying tax credit open to many entities and available for many projects.  A thorough look at the tax credit can be found on the websites below.  Contact:  Oregon Department of Energy, 625 Marion Street, N.E., Salem, OR 97301-3737; 503-373-7565; Fax:  503-373-7806; http://egov.oregon.gov/ENERGY/CONS/BUS/docs/betcbro.pdf and http://egov.oregon.gov/ENERGY/CONS/BUS/BETC.shtml

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