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Iowa Solar Market

Iowa offers the most renewable energy financial incentives in the Midwest to install a solar system.

Businesses, especially farms, are realizing they can now generate electricity on-site from the sun at a cost below utility rates.  In fact, the sum of federal (30%) and state (18%) tax credits, accelerated depreciation, sales tax exemptions (7%), 5 year property tax re-assessment abatement and grant awards are often offsetting 50-75% of the cost of the project, making the solar investment very attractive.

Example top line system cost and bottom line system cost:

Project System Cost: $282,000
Federal Investment Tax Credit: -$84,600
Iowa Investment Tax Credit (cap $20,000): -$20,000
Value of Accelerated Depreciation (MACRS): -$83,895
Net System*: $93,505 (67% reduction of original cost) 
*Without grants, local rebates, sales tax and property tax savings

Reference Project

The owner of a hog farm in central Iowa was looking to reduce costs long-term.  When he heard the financial incentives to ‘go solar’ in Iowa were some of the most favorable he wanted to hear more.   After receiving a solar feasibility and financial analysis for his property, he signed the contract and the design and construction process began immediately.

Project Highlights

Customer: Research Farms
Buildings: Hog Producer
Location: Geneva, Iowa
System Type: Ground photovoltaic
Completion Date: December, 2015
Installation Duration: ~ 4 days
Annual Energy Production:  101,172 kWh/year (75% of annual energy usage!)
AC Capacity: 60 kWacDC Capacity/DC:AC Ratio: 67.32 kWdc / 1.122 DC:AC
Module Number & Type: 264 modules, each 255 W polycrystallineMounting Scheme: Ground drill and cement
Inverter Type: Six SMA Sunnyboy 10000TL-US Single Phase Inverters

 

Please Contact
Dave Jensen, Iowa Business Development Manager
(515) 290-1544
email

 

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