Oregon Department of Energy Offers Funding for Alternative Fuel Vehicles
The Oregon Department of Energy is now accepting applications for Energy Incentives and Renewable Energy Development Grants. The Department has made available approximately $6 million in tax credits available for fleet projects allocated on a first come, first served basis from April 4, 2016 through April 30, 2017.
This Opportunity Announcement applies to fleet projects that include the replacement of two or more existing fleet vehicles with new or converted vehicles that use natural gas or other alternative fuels. Each newly acquired or converted vehicle must replace a vehicle in the fleet. Transportation projects include transit services, alternative fuel vehicle fleets, and alternative fuel vehicle infrastructure projects.
The tax credit is claimed over five years, with 10 percent of the certified cost claimed in each of the first two years, and 5 percent claimed in each of the succeeding three years. Qualified projects may be eligible for a tax credit that may not exceed 35 percent of certified project costs.
For more information, including application information, click here.