Energy Trust Incentives
Energy Trust offers the following cash incentives for investing in geothermal electricity generation systems:
Project Development Assistance: Energy Trust may provide support for expert project development assistance including, but not limited to the following: grant writing assistance, feasibility studies, final design, permitting, utility interconnection, construction management, etc. Energy Trust may pay up to 50% of the cost of hiring a consultant to provide expert assistance for these activities, up to a maximum of $40,000.
Geothermal electric installations: Incentive levels are based on a project’s above-market costs. There is no cap or fixed percentage of the amount of above-market costs we will pay. We pay incentives after a project is completed and has begun operating. In return for our funding contribution, we ask for a negotiated share of the project’s green tags, which are held in trust for the ratepayers who contribute to Energy Trust.
Tax Credits, Grants and Loan Guarantees
State and federal tax credits, grants, and loan guarantees can play an important role in making projects financially viable. Some tax credits require pre-authorization. For instance, spending money on a project prior to pre-authorization can jeopardize eligibility for Oregon’s Business Energy Tax Credit. Consult your tax professional to learn how tax credits and rules apply to your project. This information does not constitute tax advice and cannot be used to avoid tax penalties. Read more about these opportunities.
All projects must be less than 20MW in nameplate capacity and must deliver power to either Portland General Electric or Pacific Power.
Step 1: Let’s talk. If you have a geothermal resource and are interested in using it to generate electricity, contact Betsy Kauffman at 503.459.4072.
Step 2: Get the help you need. Depending on your project’s complexity, you may need to commission a feasibility study or get expert assistance to move through permitting or utility interconnection. Energy Trust may provide up to $40,000 in support for these and other types of project development activities, and we can help you identify engineers or other experts with experience in the area where you need assistance.
- To apply for this kind of assistance from Energy Trust, applicants must complete and submit an Energy Trust Project Enrollment Application (Form 910E – PDF | Doc), a Request for Funding (Form 930RF – PDF | Doc) and a Substitute W-9 (PDF).
- If the application is approved, the participant will receive a "Project Enrollment Approval Notice" and a copy of the approved funding request from Energy Trust.
- If you are chosen to receive assistance from Energy Trust, you and your selected consultant will work together to complete the pre-approved work by its deadline.
- After the work is completed, the participant submits a Completion Certification (Form 940C – PDF| Doc) along with proof that the work was completed and the consultant was paid in full.
Step 3: Once your project is well along in the development process, the next step is to apply for an incentive from Energy Trust. A complete project application must be received before construction begins. Payment begins upon project completion. In most cases, Energy Trust makes payments over the first few years of a project's operating life, contingent upon its electricity production.
To apply for an incentive:
- Complete and submit a Project Application (PDF | Doc). You may e-mail the form to us, but we require a signed paper copy before we formally begin to process it.
- Submit your completed Project Application as early as possible in the calendar year (ideally, prior to August). After our funding has been committed for the current fiscal year, we may defer funding new projects until the following year.
Use the following project enrollment forms to apply for Energy Trust geothermal incentives. For more information, including incentive application assistance, email Betsy Kauffman or call 503.459.4072.
Project Development Assistance Forms
- Form 910E (PDF | Doc): Project Enrollment Application
- Form 930RF (PDF | Doc): Request for Funding
- Form 940C (PDF | Doc): Completion Certification
- Substitute W9 (PDF)
Forms for Geothermal Projects
- Form 901 (PDF | Doc): Full Project Application