Oregon may have a reputation for cloudy weather, but the forecast for the state's solar energy industry will soon be among the sunniest in the country. That's the assessment of Russ Wright, a local solar panel marketing executive, who calls the pending Business Energy Tax Credit (BETC) legislation "free money" for Oregon business owners who invest in solar.
The BETC — anticipated to pass the Oregon State Legislature before the end of session — will raise tax incentives for commercial solar panel systems from roughly 35 to 50 percent. Combined with Energy Trust of Oregon incentives and federal incentives, this increase allows most businesses to recoup the initial investment in a solar system within five years. In many cases, the incentives and credits paid end up being more than the actual cost of the system.
"Oregon is leading the way for the rest of the country," said Wright, president and CEO of the Renewable NRG in Portland, Ore., a city better known for espresso bars and umbrella technology than for solar panels.
"The business tax incentives now pending in Salem for renewable energy systems, such as solar power, are incredible. By adding solar to their energy mix, Oregon business owners can eliminate millions of dollars in tax burdens for five years and completely abolish their electric bill for decades to come, all while using renewable, clean, free energy."
Placing itself at the core of the "green rush" in the Northwest, Renewable NRG's unique business approach capitalizes on state and federal tax incentives by showing business owners the amount of money that can be saved by installing solar power. Wright's pitch to his potential customers is not only about why solar panels are a good source of renewable energy, but also how utilizing solar energy, especially in Oregon, makes great business sense.
Renewable NRG also promises marketing and public relations support surrounding its installations for all its new customers, so that they can benefit not only from the financial aspect of shifting to a renewable energy source, but also the recognition of becoming a sustainable business.
