Oct. 04, 2007

Heat pump federal tax credit deadline approaching
PGE customers could get up to $1,380 back if they act before year’s end

Portland, Ore. — The heat is on for Portland General Electric customers who’ve been thinking about installing a new energy-efficient heat pump. That’s because residential customers could be eligible for up to $1,380 back in rebates, tax credits and cash incentives if they install a high-efficiency heat pump before Dec. 31, 2007.

PGE offers a $200 rebate to help customers with electric heat invest in energy-efficient heat pumps. Depending on the installation and model, Energy Trust of Oregon offers cash incentives between $150 and $400, plus a $50 limited-time bonus for qualified heat pumps installed by the end of the year. Homeowners who install the highest efficiency heat pumps also may qualify for a state tax credit of up to $430 and a federal tax credit of $300. Homeowners need to act quickly because the federal tax credit will end Dec. 31, 2007, unless Congress takes action to extend it.

With increasing numbers of homeowners concerned about energy efficiency and global warming, heat pumps are rapidly gaining in popularity.

“The energy-efficient heat pump is the most efficient way to heat and cool a home,” said Patty Hales, supervisor, PGE energy experts. “Because it collects heat from outdoor air and pumps it inside, a heat pump requires significantly less energy to supply the same amount of heat as a traditional furnace. In the summer, a heat pump works in reverse to provide cooling, delivering a high degree of comfort and economy year round.”

Energy Trust encourages homeowners to maximize energy savings by investing in duct testing and sealing and a CheckMe!® system check when they install a high-performance heat pump. Customers who choose to complete all three are eligible for a premium installation package incentive up to $1,300. Tax credits and the PGE rebate add even more savings.

“A heat pump is a very efficient way to heat your home, but it’s even more efficient when it is optimized for top performance and ducts are sealed to prevent leaking,” said Diane Ferington, senior residential sector manager, Energy Trust. “The added benefit is that homeowners save even more energy, make their homes more comfortable and improve indoor air quality.”

Twenty PGE-approved heat pump contractors, who are also Energy Trust trade ally contractors, are trained to help customers apply for incentives and tax credits and ensure heat pumps are installed properly for reliable performance. Customers may use any contractor, but the rebate and inspection process is streamlined with PGE-approved contractors.

To raise awareness of the benefits of heat pumps, PGE has joined with Energy Trust of Oregon and Carrier® to give away an ultra-high-efficiency Carrier heat pump system with a premium installation. Entries must be received by Nov. 30, 2007.

Details about heat pumps, eligibility for the PGE rebate and tax credits, PGE-approved contractors and the heat pump sweepstakes are available at PortlandGeneral.com/HeatPump or from the PGE Energy Experts at 503-612-3500 or 800-722-9287. Details about eligibility for Energy Trust incentives and bonuses are available at EnergyTrust.org/HeatPump or from Energy Trust Home Energy Specialists at 1-866-368-7878.

# # #