Solar Energy Systems Tax Credit (Corporate) (Iowa)
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Last modified on February 12, 2015.
Financial Incentive Program
|Name||Solar Energy Systems Tax Credit (Corporate)|
|Incentive Type||Corporate Tax Credit|
|Applicable Sector||Commercial, Residential, Utility, Agricultural|
|Eligible Technologies||Solar Water Heat, Solar Thermal Electric, Solar Thermal Process Heat, Photovoltaics|
|Energy Category||Renewable Energy Incentive Programs|
|Carryover Provisions|| Excess credit may be taken for up to 10 years
|Expiration Date|| 2016-12-31
|Maximum Incentive|| Residential: 5,000|
|Program Budget|| $4,500,000 cumulative limit per year (corporate and personal)
|Program Administrator||Iowa Department of Revenue|
|References||DSIREDatabase of State Incentives for Renewables and Efficiency|
Iowa offers an 18% corporate tax credit for solar energy systems. The credit is based on the federal tax credit for solar; a taxpayer may claim 60% of the value of the Federal Business Tax Credit. The federal tax credit is 30%, making the Iowa credit 18%. Each taxpayer may claim up to $5,000 for residential systems and $20,000 for commercial systems under this program, and any excess credits may be carried over for up to 10 years. A taxpayer may claim a credit for each separate and distinct solar installation. The cumulative value of the tax credits claimed by applicants under this program and the personal tax credit is limited to $4,500,000 per year, with a minimum of $1,000,000 reserved for credits for residential solar installations. Because of this limit, a taxpayer must complete an application to reserve the tax credit. Credits will be reserved on a first-come, first-serve basis.
Taxpayers taking a credit under this provision cannot claim a credit under the Iowa Production Tax Credit.
|Contact Name||Public Information - Revenue|
|Department||Iowa Department of Revenue|
|Address||Hoover State Office Building|
|Address 2||1305 E. Walnut|
|Place||Des Moines, Iowa|
|Phone 2|| (515) 281-3114
Authorities (Please contact the if there are any file problems.)
|Authority 1:||S.F. 2342|
|Date Enacted|| 2012-05-25
|Authority 2:||701 IAC 42.48|
|Date Enacted|| 2012-10-03
|Authority 3:||S.F. 2340|
|Date Enacted|| 2014-05-30
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.
- "Database of State Incentives for Renewables and Efficiency" Cite error: Invalid
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