Alternative Fuel Production Tax Credit
Business owners and others may be eligible for a tax credit of 50% of eligible costs related to alternative fuel production through the Business Energy Tax Credit. Qualified fuels include electricity, ethanol, and biodiesel from renewable sources. Eligible costs are those directly related to the project, including equipment cost, engineering and design fees, materials, supplies, and installation costs.
An eligible applicant (a project owner) must meet the following requirements:
- Be a trade, business, or rental property owner with a business site in Oregon or be an Oregon non-profit organization, tribe, or public entity that partners with an Oregon business or resident;
- Own or be the contract buyer of the project; and
- Use the equipment or lease it to another person or business in Oregon.
(Reference House Bills 3672 and 3606, 2011, and Oregon Revised Statutes 469.185-469.225)