2024 Solar Incentives Guide for Pleasant Hill, IA - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Pleasant Hill.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2024 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
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What Solar Tax Credits, Incentives, and Rebates are Available in Pleasant Hill?
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
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives help mitigate the cost of installing a solar panel system on your home. These financial incentives are intended to encourage more Americans to switch their home over to renewable energy. You may be eligible for different kinds of incentives, such as cash back, discounts or credit towards your monthly utility bill, depending on your situation. Some incentives come from your specific utility company, county or municipality, some from the Iowa government and others from the federal government. Types of solar incentives might include:
- Tax Credits: Tax credits are dollar-for-dollar reductions (not deductions) in how much in taxes you owe the federal government.
- Net Metering: You may be able to sign a net metering agreement with your Pleasant Hill utility company, that may apply to all or a percentage of the excess electricity your solar panels generate. Your utility company will then subtract this value from your monthly utility bill.
- Rebates: Some solar companies will help you claim a rebate, or partial refund after purchase, for your solar system. Counties or states will also offer limited-time rebates at various times. If you receive a rebate, that amount will usually be deducted from the total price before any tax credits are calculated.
- Tax Exemptions: Tax exemptions can come in one of two forms. First, there is sales tax exemption, applied at the time you purchase your solar panels. The second is property tax exemption. This allows you to exclude the added value of your solar system when paying property tax on your home.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Technology
Tesla Energy
- 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
Federal Solar Incentives
When you hear the term "solar incentives," federal incentives might be the first thing that comes to mind. You've likely heard of the Federal Solar Investment Tax Credit, or ITC. This is a tax credit equal to a specified percentage of the money you spend on solar panels for your home.
The ITC can be applied to the total cost of installing a solar system, including the panels themselves as well as equipment, labor and accessories. You can claim this credit for panels installed after January 1, 2006, on a primary or secondary residence located in the United States that you own. The tax credit ranges from 26-30% of total costs depending on when your project was completed. There is no maximum amount you can claim.
Have questions about how the ITC applies to your specific situation? Contact your local Pleasant Hill solar panel installer to get more information.
The ITC was renewed and increased in scope after the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. Homeowners can now receive a credit equal to 30% of the total costs of solar system installation for projects that began after January 1, 2022, and will be finished by the end of 2032. The percentage will then begin to decrease annually until the Clean Energy Credit ends in 2035. Beginning in 2023, it will also be easier to qualify for credits for energy storage systems with the new act.
More information about the new Inflation Reduction Act can be found here. To understand how the new Clean Energy Credit will apply to you, talk to your local Pleasant Hill solar installers.
State & Local Solar Incentives
Some solar incentives are often also provided at the state and local level. As with federal incentives, these might include rebates, tax credits and more. These incentives may be offered by the Iowa government, or by your county or municipality. Certain incentives are available for a limited time, while others are ongoing.
Next Steps for Installing Solar in Pleasant Hill
The nationwide use of solar energy has significantly increased in the past 15 years, in part thanks to the growth in the number of solar incentives. You might receive these incentives from your local utility company, the federal government or the Iowa government. Your local Pleasant Hill solar panel installation company can help you learn more about which incentives you can apply for, and get you on track to switch to renewable energy today.
EcoWatch's Pleasant Hill, IA Solar Incentives FAQs
How can I find out if I qualify for different solar incentives?
Typically, solar incentives apply to:
- a new solar panel system
- installed on property you own
- within the U.S.
- within the date range specified by a particular incentive.
Specific incentives, including those run by the Iowa government or by your county/municipality, might have additional qualifications. Get in touch with your local Pleasant Hill solar installer to learn more about what incentives your project may qualify for.
How much will a solar system save me on my electric bill in Pleasant Hill annually?
Once you add solar panels to your house in Pleasant Hill, you can anticipate savings of around $789.53 per year, or approximately $15,000.98 over the next 20 years.
What are the best solar panel installation companies near me?
To discover the top solar panel installers near you, read our article on the top solar companies in Pleasant Hill.
How long until the federal solar tax credit ends?
The Clean Energy Credit (previously referred to as the federal solar tax credit, or ITC), is slated to end on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.
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.