Over 38,000 Oregonians made investments in clean energy projects in 2023

New data out this week from the Department of the Treasury shows that tens of thousands of Oregonians are investing in clean energy technologies that will help increase energy efficiency, reduce emissions, break our dependence on fossil fuels and tackle climate change– and are taking advantage of new clean energy tax incentives to help cover some of the cost.

38,460 Oregonians claimed more than $106 million in clean energy tax credits on their 2023 tax returns for installing solar or making other energy efficiency improvements on their homes. 

Under the Inflation Reduction Act (IRA), Americans can get reimbursed for 30% of the cost of installing solar or other renewable energy technologies on their home through the Residential Clean Energy Tax Credit. 13,350 Oregon residents claimed this credit in 2023, saving them $77 million on their taxes.

The IRA also offers a Energy Efficient Home Improvement Credit, which provides tax credits of up to $3,200 for installing more efficient windows, insulation, heat pumps and other energy saving improvements. 26,840 Oregonians claimed this tax credit in 2023, saving an additional $29 million.

1,730 Oregon residents claimed both tax credits in 2023. 

More IRA benefits, including appliances rebates of up to $8,000 for a heat-pump, up to $4,000 for an electrical panel, up to $2,500 for electrical wiring, and up to $1,750 for an electric heat pump water heater will be available for Oregonians starting in late 2024 or early 2025. 

For more information on these clean energy technologies and guides for how to take advantage of these tax credits, visit our Clean Energy Homes Toolkit.