Why Go Solar in Iowa?
At number 29 for most expensive electricity prices in the United States, residents in Iowa are prime for breaking free from the rising costs of the old electrical grid.
From the busiest city to the sleepiest town, Iowa actively protects your right to install renewable energy— a right that empowers your ability to reduce your electric bills, save money on installation costs and make a conscious effort to improve the environment while you’re at it.
Iowa Solar Power Incentives
Iowa Solar Easement Laws
Like any homeowner, you want to know that you’re getting the most out of any investment in your home.
In the state of Iowa, your investment in solar power for your home is backed by laws that ensure your solar panels capture energy without interference.
Iowa solar easement laws make it easy to remove any shade cover that would limit the production of your system.
What’s more, solar easement laws in Iowa also prevent home owner associations (HOA) from blocking or stopping your home solar panel installation.
Renewable Energy Property Tax Exemption
Interested in how a solar installation will affect the assessed value of your home? If you live in Iowa, here’s some great news: the Renewable Energy Property Tax Exemption exempts your new solar energy system from property tax assessments for the first five years after installation.
In that significant amount of time, the property tax exemption could quickly help you recoup the cost of your system.
So even though your solar power system adds value to your home or property, the system is exempt for half a decade when property taxes are assessed.
Iowa Sales Tax Exemption
As if the incentives for solar energy in Iowa weren’t good enough already, the state offers an added sales tax exemption on the entire cost of your solar system!
Like other electrical generating equipment in Iowa, the purchase of solar equipment is also exempt from sales tax.
Right from the start, that means you immediately save 6% of the purchase price when you switch to solar in Iowa.
Iowa Solar Tax Credit
When you install solar in Iowa, you can take advantage of any number of the state’s ample tax benefits, one of which is the Iowa Solar Tax Credit also referred to as the Residential Solar Tax Benefit.
What this means for homeowners and residents of Iowa is that you will receive 13% of the cost of your solar system back on your state income tax.
For residential installs, the tax credit has a maximum credit amount of $5,000, however, that amount can easily help recover the cost of your solar installation. It should come as no surprise that it’s largely responsible for the increase in demand for solar in Iowa.
While called the Residential Solar Tax Benefit, this solar tax incentive is not only limited to homeowners. In fact, commercial businesses can receive a maximum of $20,000 in tax credits with their solar installation.
Net Metering for Solar in Iowa
Net metering is a sensible, cost-effective (and readily available) opportunity to use your solar energy in order to earn credits on your electric bill on days when your system produces more energy than you use.
By taking advantage of net metering in Iowa, you can send the extra electricity produced by your solar panels back to the electric grid and receive credits on your electric bill in exchange.
There’s a reason homeowners in Iowa with solar love net metering. Instead of paying for extra electricity from the utility companies, the credits received from net metering cover a significant amount of any extra energy costs.
The credits you receive from the electric company are perfect to use on days when your solar panels produce less than what you need.
Times of less sunlight such as prolonged storms or wintery, cloud-covered seasons are perfect examples.
Homeowners in Iowa who are customers of Interstate Power and Light (IPL) and MidAmerican Energy are eligible to participate in net metering with their new home solar system — just so long as the solar energy system is beneath the 500 kilowatt (kW) benchmark. Don’t worry about surpassing that mark, though. Most of the residential solar systems are under 15 kW.
Solar Federal Tax Credit
If you’re considering going solar in Iowa, the United States federal government offers a 26% tax credit of the entire cost of your solar system, including a solar battery to deduct from your federal taxes. Better known as The Solar Investment Tax Credit, this incentive is available to Iowa homeowners and business owners.
If it’s time for you to switch to solar, then there is truly no time to wait. The federal solar tax credit is one of the best available incentives to homeowners who go solar in Iowa. Claim the 26% Solar Tax Credit before the end of 2022. Now is the time to reduce or eliminate your electric bill, as well as increase your home value, and reduce your environmental footprint.
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We install solar and roofs in cities and towns all over Iowa. Contact us today to see if we service your area.Free Solar Quote