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BETC program announces Tier Three screening results
5/9/2011
ODOE masthead
 
 
 
 
 
 
 
 
 
FOR IMMEDIATE RELEASE
 
 
11-36
CONTACTS
Anthony Buckley, 503-373-7400
In Oregon, 1-800-221-8035
 
SALEM—Five applications received for the Tier Three Business Energy Tax Credit for renewable energy projects will be moving forward to the technical review process. If any of those five proposals fail to meet the standards for preliminary BETC certification, the Oregon Department of Energy Director may choose to advance another project from the list of remaining applicants.
 
Sixteen applicants applied under the second Tier Three Opportunity Announcement, which opened on January 24, 2011 and closed on February 28, 2011. Two applications were determined to not be eligible. The remaining 14 applications were reviewed and scored using the selection criteria, which included:


  • Strength of business plan
  • Jobs and employment
  • Cost ratio of power produced
  • Readiness to start and complete the project
  • Payback period
  • Geographic area/local economic conditions
 
The five high-scoring projects were identified within the $10 million in tax credits allocated for this Tier Three round. Those five applicants have been notified that they are eligible to proceed through technical review as part of the BETC preliminary certification process. Information on the five eligible applications is posted on the Web at:
http://www.oregon.gov/ENERGY/CONS/BUS/tax/BETC-Renewables-T3R3.shtml
 
The BETC application process for renewable energy tax credits changed as a result of legislation passed in 2010. Three tiers, based on tax credit amounts, were established with specific requirements, including a competitive review and award process for Tiers Two and Three. Tier Three includes projects with projected project costs equal to or greater than $6 million.
 
No other renewable energy BETC applications will be accepted for the remainder of the biennium, which ends on June 30, 2011. The 2010 Legislative Special Session put a $300 million cap on the amount of Business Energy Tax Credits available for renewable energy projects, which has been allocated as planned. 
 
The 2010 legislation (HB 3680) does designate $150 million for renewable energy tax credits for July 1, 2011 through June 30, 2012. The renewable energy and conservation components of BETC are scheduled to end July 1, 2012.

 
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About the Department of Energy: The Oregon Department of Energy provides tax credits, loans, technical assistance and energy information for homes, businesses, manufacturing, farms, ranches, schools and governments.
 

 

Oregon Department of Energy
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