The desire to make healthy and environmentally sound choices when it comes to energy production and consumption can be put to an end prematurely because of the financial burden of installing solar panel systems to homes and businesses. While technology has improved and aided in reductions to system costs, it can still be a difficult decision. The state of Iowa is helping to make that decision a bit easier with their Iowa Solar Energy Tax Credits available to both homes and businesses throughout the state. With the tax credits and incentives that Iowa is providing, it is helping more of its residents to make the smart and forward thinking choice to go with the clean, renewable, and more efficient choice of solar energy.
Whether the solar panels are added to a home or business property in Iowa, there are millions of dollars available each year in possible tax credits. You can reach out to a company like Green Transitions LLC to help you take advantage of these tax credits. Each year the state sets a cap for the amount of solar panel tax credits that they will provide and these credits are available to energy conscious individuals on a first come first serve basis. Once the tax credit cap has been met, any further applications will be placed on the waitlist for the following year’s funds.
After completing the application found on the Iowa Department of Revenue webpage, and including the necessary documentation, you will be sent a letter confirming your eligible tax credit amount. Also included, will be the tax credit certificate number that will be used to claim your credit when completing your Iowa tax return on form IA 148.
In addition to tax credits available for your solar panel system, the state of Iowa is also encouraging residents to make smart choices about their energy consumption through the ability to purchase solar panel systems and have them installed without the added cost of sales tax. This additional savings at the time of purchase will further assist in the choice to make sound decisions about your home or business’s energy stance. These tax incentives will not last forever! The time to make your home or business more environmentally conscious is now.