2023 Solar Incentives Guide for Camanche, IA - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Camanche.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2023 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
Get a free quote from one of our trusted Camanche solar installers to see how much you can save.
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By EcoWatch Local Advisors
Data Analysis: James Savino
Ranking Methodology: Karsten Neumeister
Updated May 04, 2023
Why you can trust EcoWatch
What Solar Tax Credits, Incentives, and Rebates are Available in Camanche?
Property Tax Exemption for Renewable Energy Systems
Renewable Energy Equipment Exemption
Solar Energy Systems Tax Credit (Personal)
Local Option - Special Assessment of Wind Energy Devices
Methane Gas Conversion Property Tax Exemption
Geothermal Heat Pump Tax Credit
Energy Replacement Generation Tax Exemption
Reduced rate for large hydro
Alliant Energy Interstate Power and Light - Residential Energy Efficiency Rebate Programs
Air Source Heat Pump: $300-$800 for existing homes, $180-$480 for new homes
Appliance Recycling: up to $50
Central A/C: $150-$600 for existing homes, $90-$360 for new homes
Ductless Mini-Split Heat Pump: Varies
Electric Heat Pump Water Heater: $300-$350 for existing homes, $180-$210 for new homes
Electric HVAC System Tune-Up: up to $50
Gas Furnace: $180 for existing homes, $80 for new homes
Geothermal Heat Pump: $1,320-$1,750 for existing homes, $790-$1,050 for new homes
Learning Thermostat: $100 for existing homes, $60 for new homes
LED Light Bulbs: In-Store Rebates
Online Home Energy Assessment: FREE
Room Air Purifier: up to $30
Variable Speed Pool Pumps: up to $220
Federal Residential Renewable Energy Tax Credit
Solar incentives are designed to mitigate the cost of installing solar panels on your home. Financial incentives like these are in place to encourage more homeowners to convert their home partially or fully to renewable energy. Incentives might include things like discounts, cash back or monthly utility bill credits. Some incentives are offered federally, while others are provided by the Iowa government or your specific utility company, county or municipality. Some broad categories of solar incentives include:
- Rebates: Solar rebates can be provided by your state or county, or by your local utility company. These rebates are essentially cash back that is applied after you purchase a solar system and before tax credits are calculated.
- Tax Credits: These credits are dollar-for-dollar reductions (not deductions) in the amount of tax that you owe the government.
- Net Metering: Net metering factors in once your solar system is up and running. If you've signed a net metering agreement with your Camanche utility company, it will subtract the value of the excess energy your solar system produces from your monthly utility bill. In some areas, this is a dollar-for-dollar credit, while in others you may make back a percentage of the value.
- Tax Exemptions: Your solar panels may qualify for both sales tax and property tax exemptions. Sales tax exemptions are applied at the time of purchase. Property tax exemptions let you ignore the value added by your solar panels when you are calculating property taxes on your home.
Federal Solar Incentives
When someone says "solar incentives," you likely think of federal incentives first. The Federal Solar Investment Tax Credit, or ITC, is probably the most well-known federal solar incentive. The ITC provides you with a tax credit for a specific percentage of your solar system's cost.
The ITC can be applied to solar panels installed after January 1, 2006 on a primary or secondary residence in the United States that you own. Originally, the tax credit was for 30% of the total cost — for panels, labor, accessories and equipment — although that amount may range from 26-30%, depending on when your solar project was undertaken. There is no cap on the amount you can claim.
Talking to your local Camanche solar panel installation expert is the best way to learn more about how the ITC applies to your situation.
In August 2022, the Inflation Reduction Act laid out new provisions for the ITC, now dubbed the Clean Energy Credit. The Clean Energy Credit is valid until 2035. Your solar installation project undertaken between 2022 and 2032 may qualify for a 30% tax credit; this amount will be decreased slightly each year until the end of the current program. Starting in 2023, the expansion to the program will also make claiming credit for energy storage systems easier than ever before.
More information about the new Inflation Reduction Act can be found here. Your local Camanche solar panel installer can answer any questions you have and explain how the new Clean Energy Credit will apply to you.
State & Local Solar Incentives
In addition to those provided at the federal level, there are often also state solar incentives. Rebates, tax credits and more might be available at a more local level. Some incentives are ongoing, while others are only available for a limited time. Solar incentives might be offered by the Iowa government, or by your county or municipality.
Next Steps for Installing Solar in Camanche
Solar energy use nationwide has gone up significantly in the past 15 years, in part thanks to the growth in the number of solar incentives. You can obtain these incentives from your local utility company, the federal government or the Iowa government. Getting in touch with your local Camanche solar panel installer is the right first step towards getting the most money possible when you switch to solar energy.
Best Warranty Coverage
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Camanche, IA Solar Incentives FAQs
I already have solar panels. Does my system qualify for any incentives?
If your solar system was installed after January 1, 2022, you may qualify for the newly increased 30% tax credit under the Inflation Reduction Act. If you had your system installed between 2006 and 2021, you may qualify for a tax credit between 26% and 30%, depending on the exact installation date. Talking to the company that installed your solar system, or any local Camanche solar installer, can help you learn more about what incentives you can apply for.
How much can I save annually on my electric bill if I add solar panels to my house in Camanche?
When you add solar panels to your house in Camanche, you can anticipate savings of approximately $958.48 per year, or approximately $18,211.14 over 20 years.
What are the highest-rated solar panel installation companies near me?
To find the top solar panel installers near you, take a look at our article on Camanche's top solar panel companies.
What are some environmental benefits of adding solar panels to my home?
You can decrease your carbon footprint by 450 pounds of CO2 a year by installing solar panels. This adds up to roughly 9,000 pounds in 20 years. Solar is also a renewable energy source, meaning that switching your home over lessens the drain on our planet's resources.
Can I use a combination of solar and another type of renewable energy to power my home?
Yes, you can employ multiple types of renewable energy to power your home, such as a combination of solar and geothermal. You can also combine renewable energy generation with a backup source of non-renewable energy. You should discuss your proposed plan with your local Camanche solar installation expert, to make sure you know what you'll need and what incentives you might or might not qualify for.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.