Tim Kruse, from Green Light Renewable Services, provided a dynamic conversation at Smokey Row for our April Meetup and we thought it would be great to share some of the information since we know some of you couldn't make it!
Here are some of the key reasons for going solar:
1. It's environmentally responsible. There are no greenhouse gases, environmental toxins, and it doesn't use any water!
2. You become energy independent, meaning you take control of the energy production.
3. You're making a solid investment, saving you thousands of dollars over the years.
4. It reduces your electric bills.
Check out Tim's post on choosing an installer!
Incentives for Solar
1. The Business Energy Investment Tax Credit. The ITC is a federal tax credit that is available to all taxpayers who invest in solar energy systems, among other forms of renewable energy technologies. The credit is equivalent to 30% of the total expenditures and there is no
maximum limit. This credit is available for systems placed in service by December 31, 2016.
2. The Iowa Solar Energy System Income Tax. The state of Iowa allows for an income tax credit on solar energy systems equal to half of the Federal ITC; which is effectively 15% of the total system cost. The total amount for an individual cannot exceed $5,000. For businesses, the total credit cannot exceed $20,000. This credit is available for systems placed in service by December 31, 2016.
3. Iowa Alternative Energy Revolving Loan Program. The Iowa Energy Center has a lending program where 50% of a loan for a solar PV system is provided at 0% interest. The other 50% must be obtained from a lender of the applicant's choice. This program effectively halves the interest rate when borrowing to invest in solar PV, among other forms of renewable energy. As loans are repaid, the funds are recycled back into the program. More specifics here.
We hope this small post inspires you to look into solar power or share it with someone in the community!