Sanyo Solar Delivers for Salem
Sanyo Solar of Oregon's investment in its Salem manufacturing plant helped put Oregon on the map as a global leader in solar manufacturing.
(Renewable Resource Equipment Manufacturing (Mfg BETC))
Business owners of facilities used to manufacture equipment, machinery or other products that will be used exclusively for renewable energy resource generation/harvesting may be eligible for a state tax credit. The tax credit is 50% of eligible facility costs. If issued, the tax credit is claimed over five years (10 percent per year) and can be rolled over according to Oregon Revised Statute 315.341(5).
The maximum total cost eligible to receive a preliminary certification from the Director of Business Oregon for tax credits in any calendar year may not exceed:
Application for the tax credit is subject to a detailed technical and financial review of the financial model and plan by a third party. Before the Director will approve a final certification, the department will require the applicant's commitment to performance measures for the facility including job creation and retention requirements and other economic benchmarks through execution of a performance agreement or other similar agreement for the facility. Failure to comply with the terms of the performance agreement or other similar agreement may be the basis for denial or revocation of the final certification. The credit also is subject to clawbacks should performance measures not be met.
An eligible applicant (a facility owner) must meet the following three requirements:
Before any financial commitment or construction of the facility begins: