Solar power is more popular now than it has been at any other time in the past, and there's good reason for that. It's an alternative energy source that more homeowners are realizing is both cost-effective and environmentally responsible. There are also added advantages of solar installation you may not be aware of, including tax benefits and cash incentives. Below, the professionals at North River Electric in Roseburg, Oregon, discuss three of these perks in more detail.

3 Tax Benefits & Cash Incentives of Solar Installation in Oregon

1. Federal Tax Credit

Homeowners in Oregon and Washington can take advantage of a special federal tax credit with solar installation. On your federal taxes, you can deduct up to 30% of the cost of installing a solar panel system. If the amount exceeds your tax liability for the year of installation, it can be carried forward to the following year. Note that all solar installations must be approved by a tax-certified technician to obtain the federal tax credit.

2. Utility Provider Incentives

Most utility companies in Oregon offer cash incentives to those who install solar systems tied to the energy grid, which encompasses the majority of installations. The amount of this incentive varies between utility companies. In Eugene, for example, the Water & Electric Board pays $0.40/W to solar owners. In Salem, Salem Electric pays a $600 rebate for the first 3 kW installed, and $300 for each additional kW.

3. Utility Bill Credit

Oregonians can reap the rewards of the state's net metering policies. Under these policies, a homeowner receives credit on their utility bill for the extra electricity generated by their solar installation. If what you generate exceeds your monthly utility costs, you can carry it forward and use it to pay future bills.

Start enjoying the benefits of Oregon's tax laws and cash incentives, and opt for a solar panel system from North River Electric. Since 1981, they have been providing solar and electrical installation, residential and commercial wiring, and a variety of other electric services to the Roseburg area. Call (541) 673-0800, visit them online, or contact them on Google+ to get an estimate on new solar installation today.