Financial Incentives for Building Owners

In August 2022, President Biden signed the Inflation Reduction Act of 2022 (IRA) into law. The law makes historic investments in climate action in the US and will help Eugene reach our climate goals through direct funding and tax-based incentives. These federal investments will support implementation of Eugene’s Climate Action Plan by providing funding to reduce greenhouse gas emissions from buildings and transportation while supporting a just transition to a clean energy economy. The White House has published a fact sheet highlighting some of the potential benefits of the IRA for Oregon residents.


 For Eugene residents and businesses seeking to weatherize, reduce GHG emissions from or increase the efficiency of their homes, buildings or transportation, the IRA includes a range of incentives for energy efficiency, solar, storage, electrification as well as electric vehicles.  Many of these federal incentives can be combined with incentives from the state and local utilities to reduce the cost of upgrades.


 Information on incentives directly available to local households and businesses is provided below. Over the coming months, the Sustainability Program will continue to provide more details about opportunities and resources available under the IRA and how Eugeneans can access them to take actions that reduce their building energy costs and carbon emissions. 

  1. Federal Incentives
  2. State Incentives
  3. Utility Incentives

From making home weatherization and efficiency upgrades, to installing new electric appliances or installing a solar system – the federal IRA can help cover some of the costs of these actions and save money.

 Learn more about how you or your family can save on utility bills, get support to purchase energy-saving appliances and access the economic opportunities for a clean energy future.

 

Heat Pumps

Heat pumps offer an energy-efficient alternative to provide both heating and cooling for homes. The IRA includes tax credits and rebates that can cover up to 100% of the costs, depending on household eligibility.

 Learn more about heat pump eligibility and rebates at cleanenergy.gov.

 

Heat Pump Water Heaters

Financial support is available to install heat pump water heaters, which can be two to three times more energy efficient than conventional water heaters. The IRA includes tax credits and rebates that can cover up to 100% of the cost depending on household eligibility. 

 Learn more about heat pump water heaters.

 

Rooftop Solar

The IRA can help households harness the sun’s energy to power their homes with clean electricity and save on utility bills. Tax credits are available now to cover up to 30% of the installation cost of a solar system – and this federal credit can be paired with additional incentives available from the State of Oregon and EWEB.

 Learn more about rooftop solar at cleanenergy.gov.

 

Home Energy Audits

An energy audit helps you understand where and how your home uses energy. Before making any efficiency decisions, consider a home energy audit which will provide a roadmap for saving money, making your home more energy efficient and improving your home’s comfort. 

 The IRA provides a $150 tax credit for home energy audits. In addition, the University of Oregon is home to the SCORE program, a local partnership that works to help Eugene residents better understand energy consumption in their homes. 

 

Weatherization

Weatherizing your home helps you save money by saving energy and reducing energy leakage. This keeps your home cooler in the summer, warmer in the winter and reduces utility bills. Windows can be responsible for 25-30% of heating and cooling energy use and doors and poorly insulated attics and basements can leak significant amounts of energy as well. A home energy audit can identify the best or most cost-effective weatherization options.

 Learn more about how to weatherize your home.

 

Electric Vehicles

The IRA makes electric vehicles more affordable, providing up-front incentives of up to $7,500 for new and $4,000 for used electric vehicles. 

 Learn more about EV credits at cleanenergy.gov.