Oregon Residential Energy Tax Credits
The Residential Energy Tax Credit (RETC) Program "sunseted" on December 31, 2017. This means these tax credits will no longer be available for appliances.
Oregon Biofuels Tax Credit
Did you know you can take a tax credit for burning cord wood? The Oregon tax credit applies to companies and people who collect and consume bio fuels such as bio diesel, bio home heating oil, and biomass, such as cord wood and pellets in the case of home heating.
•The credit is $10 per bone dry ton of pellets or $10 per cord of wood.
•The credit is for fuel burned (not bought) regardless of the source. In other words, if you burn cord wood that came from a tree that fell in your backyard, that qualifies. There will be more detail on type of wood that qualifies once the rules are out.
•The credit only applies if a pellet stove is used or a woodstove on the list of EPA certified wood stoves
Idaho Woodstove Tax Credit
The Idaho DEQ's statewide woodstove program encourages the use of cleaner-burning woodstoves. It is designed to help homeowners burn more efficiently and create less pollution. The State of Idaho offers taxpayers who buy new woodstoves, pellet stoves, or natural gas or propane heating units for their residences a tax deduction to replace old uncertified woodstoves. (Fireplaces do not qualify) Proof of disposal is required. You can deduct 40% of the cost of purchase and professional installation in the year the woodstove is replaced, and 20% of the cost per year for the next three years (the total annual deduction cannot exceed $5,000).