The state of Iowa offers a simple and enticing solar tax credit to those. who install a solar panel system for their home or business. To help support the adoption of solar, you’ll get 13% of your total solar system cost back on your Iowa state income tax. There is a $5,000 maximum credit amount for residential installs and a $20,000 cap for commercial businesses. This generous solar tax credit and other Iowa solar incentives are a major reason why there has already been over 139 megawatts (MW) of solar energy installed in Iowa.
If you’re a customer of MidAmerican Energy or Interstate Power and Light (IPL), you’ll be able to take advantage of net metering with a new residential solar system. Net metering allows you to earn credits on your electric bill on days when your system produces more energy than you use. You can then use those credits on days when your system produces less than what you need (can happen in wintertime some).
The Renewable Energy Property Tax Exemption ensures that any new solar energy system installed in Iowa is exempt from being part of your property tax assessment value for the first five years. Obviously, this helps you to recoup the cost of your system even quicker.
Iowa solar easement laws help ensure your Iowa solar installation isn’t covered by shade that would limit the production of your system. There are also many cities and towns in Iowa that have laws preventing home owner associations (HOA) from blocking your home solar panel installation.
Total sales tax exemption on the cost of your Iowa solar energy system! This saves you 6% on the total cost of your system, right off the bat.
2020 is the last year the Federal Solar Tax Credit will be at 26 percent! After. that it goes down significantly each year. Similar to the 13% state of Iowa tax credit, the ITC allows you to deduct 26% of the cost of your solar energy system from your federal taxes.
MOXIE is one of the largest solar installation companies in the country. We’ll work with you to create a complete solar system that is affordable, sustainable and dependable.