On January 13, 2012, the Oregon Department of Energy issued the first announcement requesting filings for the program that is replacing the Business Energy Tax Credit (BETC).  This is an Energy Conservation Project Opportunity Announcement for Small Premium Projects.  The Announcement and other documents and filing form can be found on the ODOE website at http://www.oregon.gov/ENERGY/BUSINESS/Incentives/SPP-OA.shtml.

 Requirements:

• Small Premium Projects are projects that cost $20,000 or less.
• Must be a project type described in the Announcement materials (Addendum 1 Technical Specifications). (There are three types that may apply to industrial facilities.)
• There is a total of $1.7 million in tax credits available for Small Premium Projects.  The maximum tax credit allowed is $7,000 (35% of project costs).
• The credits will be allocated on a first-come-first-served basis between January 13 and December 31, 2012.  The opportunity will close sooner if funds are exhausted before the close date.
• To participate, file an Informational Filing Form and a fee of $60 with the Oregon Department of Energy.  Upon receipt of a complete Filing Form, the tax credit will be reserved to the project.
• After the project is completed, apply to ODOE for a final certification and pay application fee of 0.5% of project costs.
• Must receive a Final Certificate before the credit can be claimed on Oregon Tax Return.