Iowa farms are well suited to reap the benefits of solar. As a business, you’re eligible for the federal solar tax credit, the Iowa solar tax credit, and MACRS depreciation. These incentives will drastically reduce the net cost of your array, and you’ll reduce your electric bills to add to your savings. But 2019 is the final year to fully capitalize on these savings.
Solar power tax credits allow you to invest thousands of dollars into an asset for your farm, rather than paying that same amount of money to the government. The federal tax credit is worth 30% of the cost of your array. However, the tax credit will step down to 26% in 2020, and continue to drop in the coming years, so if you want to save the maximum amount of money you have to act soon.
You’re also eligible for an Iowa solar tax credit which is worth 15% of the cost of your array. Like the federal tax credit, the Iowa solar tax credit will also move to a lower percentage in 2020.
The open space and buildings that many farms are blessed with make them perfect properties for solar. By combining savings on your electric bill with tax credits and accelerated depreciation, you may be able to cover up to 80% of the cost of a solar array. A Simpleray solar array has a warranted lifetime of 25 years and an estimated lifespan of 40 years. That means you can reap the benefits of clean energy for decades to come. Those are savings that will carry on to the next generation.
With over ten years of experience with solar power in Iowa, Simpleray is one of the Heartland’s best solar installers. Our knowledge and experience allow us to optimize every step of the solar process to maximize savings for farms, businesses and homeowners. We strive to provide uncompromising customer service and a transparent installation process.
