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New renewable energy BETC applications readied for 2011
12/22/2010
ODOE masthead
 
 
 
 
 
 
 
 
 
 
 

FOR IMMEDIATE RELEASE
 
 
#10-94
Contacts:
 
Diana Enright, 503-378-8278
In Oregon 1-800-221-8035
 

SALEM—The next round of Tier 1 Business Energy Tax Credit (BETC) applications for renewable energy resource projects will open on Jan. 3, 2011. This will start the last round of funding for renewable energy resource projects for the current biennium. 
 
The 2010 Legislative Special Session put a $300 million cap on the amount of potential Business Energy Tax Credits available for renewable energy projects. HB 3680 also created a tiered system of application review and spelled out evaluation criteria. Each tier has specific application deadlines and funding phases.
 
Application Dates
The $35 million available in renewable energy tax credits through June 30, 2011 includes:
  • Tier 1: $15 million for three phases of funding; covers projects with costs less than $500,000.
    • Phase 1 of $5 million will run from Jan. 3, 2011 through Feb. 11, 2011, but could end sooner if funds are exhausted before the closing date.
    • Phase 2 of $5 million will run from Feb. 18, 2011 through April 1, 2011, but could end sooner if funds are exhausted before the closing date.
    • Phase 3 of $5 million will run from April 11, 2011 through May 19, 2011, but could end sooner if funds are exhausted before the closing date.
Once Tier 1 funds are exhausted, the application and payment will be returned to the applicant and there will be no waitlist created for any of the Tier 1 phases.
  • Tier 2: $10 million available for applications where project costs are more than $500,000 but less than $6 million. The Tier 2 application process runs from March 7, 2011 through April 8, 2011.
  • Tier 3: $10 million available for applications of $6 million or more in project costs.  The Tier 3 application process will open Jan. 24, 2011 and closes Feb. 28, 2011. 
New Process
Applications for the first phase of Tier 1 will be available on the Oregon Department of Energy website http://www.oregon.gov/energy/ on Jan. 3, 2011. These will be new forms and previous versions are obsolete.
 
To expedite processing, all applications must be submitted to the Oregon Department of Energy, P.O. Box 2008, Salem, OR 97308 and will only be accepted at the P.O. Box address. Only one application per envelope will be accepted and payment must accompany the application. Tier 1, Phase 1 applications postmarked before Jan. 3, 2011 or after Feb. 11, 2011 will be returned to the applicant.
 
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About the Department of Energy: The Oregon Department of Energy (ODOE) provides tax credits, loans, technical assistance and energy information for homes, businesses, manufacturing, farms, ranches, schools and governments. For more information, visit ODOE’s website at www.oregon.gov/energy.
 

 

Oregon Department of Energy
Main OfficeHermiston Field Office
625 Marion St. NE, Salem, OR 97301-3737
395 E Highland Rd.
Phone: 503-378-4040Hermiston, OR 97838
Toll-free in Oregon: 1-800-221-8035P: 541-567-3840
Fax: 503-373-7806