Attention all Iowa Homeowners: Money-Saving Solar Incentives Abound

Solar Panel InstallationsFederal incentives are available to people in all 50 states, and they are intended to encourage people to make the switch to renewable energy sources. Iowa has additional advantages which will not only result in lower electricity costs for the long term, but they will also significantly cut the cost of solar installation. Among those benefits are Iowa state incentives as well as rebates and incentives from utility companies.

Going Solar is Smart

Iowa incentives and rebates aside for a moment, there are other undeniable benefits to installing solar photovoltaic (PV) panels on your rooftop; and it’s just smart to get in on them. Whether you live in Iowa, New Jersey, California, Wisconsin, or anywhere else, the following are great benefits of going solar:

  • Every month you can save money on your electric bill; and your savings begin immediately, even if you finance your solar PV system, in the majority of cases. In addition, your solar system pays for itself entirely over time.
  • Having solar panels helps to protect you against hikes in electricity rates. Every time the cost of gasoline increases, it’s like you are increasing your amount of savings by using solar energy. Over the past 30 years, utility rates have gone up, on average, 5% annually. In 2006 alone, some residential rates jumped as much as 55% in more than one state.
  • The value of your home is increased by $20,000 for every $1,000 reduction in annual electricity rates. Even if you are concerned you may be moving, a solar installation will pay off in the end.
  • You reduce the amount of air pollution, such as carbon dioxide emissions, when you use solar energy, which is 100% clean. Fewer power plants that produce dangerous gases would need to be built if more people were using solar electricity.
  • Solar helps achieve energy independence. The price stability of solar power is unaffected by the effects of natural disaster and instability of foreign oil sources. In addition, there is less strain on the public power grid when more people are drawing clean energy from the sun.

Two of Many Iowa Solar Incentives

A solar tax credit is available for solar PV and solar thermal systems in Iowa, thanks to Senate File 2342, signed on May 25, 2012, by Governor Branstad. The cap on the awards is $1.5 million, and the credits are reserved on a first-come, first-served basis. The income tax credit is for solar energy systems which are installed on Iowa property. The following are a few details about how the tax credit is computed:

  • Dubuque Iowa Solar StoreFor resident properties: 50% of the solar-related federal residential energy efficient property credit provided in sections 48(a)(3)(A)(i) and 48(a)(3)(A)(ii) of the Internal Revenue Code, the maximum amount being $3,000.
  • For commercial & agricultural properties: 50% of the solar-related federal energy credit provided in sections 48(a)(3)(A)(i) and 48(a)(3)(A)(ii) of the Internal Revenue Code, for a maximum of $15,000.

There is a website which shows the long list of Iowa incentives and rebates for renewable energy such as solar on the Database of State Incentives for Renewables and Efficiencies.

Contact our Iowa NASS store- Dubuque Solar Store– for help in sorting out rebates and incentives that may be available to you as you make the smart decision to switch to solar energy.

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