Iowa encourages the conversion to solar power. They use a combination of grants, rebates administering through the utility companies, and other tax incentives to do this.
Summary of Iowa Incentive Programs
•Federal Tax Credit 30%
•State Tax Credit 1.5¢ per kWh
•State Grant Program
Iowa Grants and Rebates
Iowa has in place a state grant program to fund conversions for commercial, industrial, transportation, and agricultural sectors.
Rebates are administered by the public utility companies, with three separate companies having a program that offers a rebate for solar-thermal systems in the $30 per sq. foot of collector area, and photovoltaic systems in the amount of $2-$3 per projected annual kWh. Additionally, the Farmers Electric Cooperative offers a rebate in the amount of $1000 per peak kW.
Iowa Tax Credits
Iowa offers tax credits to businesses and residences alike in the amount of 1.5¢ per kWh.
Iowa also exempts solar power equipment from both sales taxes and property taxes.
Financing Options
The state of Iowa offers a state loan program at zero interest, and an additional revolving loan program. Additionally, there are a number of federal loans available.
Additional information can be found by visiting the DSIRE:Database of State Incentives for Renewables & Efficiency.
Comments are closed.