2023 Solar Incentives Guide for Saylorville, IA - Tax Credits & Rebates

In this guide, we'll cover the latest solar incentives and rebates available in Saylorville.

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 Saylorville solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

What Solar Tax Credits, Incentives, and Rebates are Available in Saylorville?

Property Tax Exemption for Renewable Energy Systems

Incentive Type:
Property Tax Incentive
100% of value added by renewable system

Renewable Energy Equipment Exemption

Incentive Type:
Sales Tax Incentive
100% of sales tax

Solar Energy Systems Tax Credit (Personal)

Incentive Type:
Personal Tax Credit
50% of Federal ITC (15% for 2019 and earlier, 13% for 2020, 11% for 2021, 5% for 2022, 0% for 2023 and later).

Local Option - Special Assessment of Wind Energy Devices

Incentive Type:
Property Tax Incentive
Property valued at 0% of the net acquisition cost in the first assessment year, increasing annually by 5 percentage points to a maximum of 30% of the net acquisition cost in the 7th and succeeding years

Methane Gas Conversion Property Tax Exemption

Incentive Type:
Property Tax Incentive
100% exemption for 10 years

Geothermal Heat Pump Tax Credit

Incentive Type:
Personal Tax Credit
20% of the Federal Tax Credit, equivalent to 6% of the system cost

Energy Replacement Generation Tax Exemption

Incentive Type:
Corporate Tax Exemption
100% exemption for self-generators, landfill gas and wind
Reduced rate for large hydro
Learn more:

Federal Residential Renewable Energy Tax Credit

Incentive Type:
Personal Tax Credit
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.

Source: https://www.dsireusa.org/


Solar incentives help mitigate the cost of installing solar panels on your home. These financial incentives are in place to encourage more Americans to switch to renewable energy. You might qualify for different kinds of incentives, including discounts, cash back or monthly utility bill credits, depending on your situation. Some incentives come from your specific utility company, county or municipality, some from the state of Iowa and others from the federal government. Categories of solar incentives include:

  • Rebates: Solar companies may help you claim a rebate, or partial refund after purchase, for your solar panels. Counties or states will also sometimes offer limited-time rebates. The value of a rebate will usually come off the total price before tax credits are calculated.
  • Tax Exemptions: These could come in the form of property tax exemptions, which allow you to exclude the value added by your solar panels when paying taxes on your home. You could also look for exemptions on sales tax at the time of purchase.
  • Tax Credits: Tax credits lower, dollar-for-dollar, the amount of income tax you owe the government. Tax credits differ from tax deductions.
  • Net Metering: Net metering factors in after your solar system is up and running. If you've signed a net metering agreement with your Saylorville utility company, they will subtract the value of the excess energy produced by your solar system from your utility bill each month. In some places, this credit is dollar-for-dollar, while in others you may be refunded a percentage of the value.

Federal Solar Incentives

When you hear the term "solar incentives," federal incentives might be the first thing that comes to mind. An incentive that most people are likely familiar with is the Federal Solar Investment Tax Credit (ITC). This incentive is a tax credit for a certain percentage of the cost of your solar system.

The ITC can be applied to solar panels installed after January 1, 2006 on a primary or secondary residence that you own in the United States. Initially, the credit applied to 30% of the total cost — for panels, equipment, accessories and labor — although the percentage may range from 26-30%, depending on when your solar system was installed. There is no cap on the claim amount.

To better understand how the ITC will apply to your situation, get in touch with your local Saylorville solar panel installer and ask for more information.

In August 2022, the ITC (now referred to as the Clean Energy Credit) was bolstered by the passage of the Inflation Reduction Act. The Clean Energy Credit lasts until 2035. Your solar installation project undertaken between 2022 and 2032 may qualify for a 30% tax credit; the amount will be decreased slightly each year until the end of the current program. The expansion to the program also makes credits for energy storage systems even easier to claim, starting in 2023.

More information about the new Inflation Reduction Act can be found here. The best way to fully understand how the new Clean Energy Credit applies to you is to talk with your local Saylorville solar panel installation expert.

State & Local Solar Incentives

Some solar incentives are often also provided at the state and local level. Like with federal incentives, these can include tax credits, rebates and more. These incentives might be distributed by the Iowa government, or by your county or municipality. Some are ongoing, while others are available for a limited time.

Next Steps for Installing Solar in Saylorville

Solar incentives may come from your local utility company, the federal government or the Iowa government. The growing number of available solar incentives has helped nationwide use of solar energy increase greatly in the last 15 years. We recommend talking to your local Saylorville solar installation company to learn more about these incentives and to make sure that you're getting all of the money you can for your solar system.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • 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

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Saylorville, IA Solar Incentives FAQs

How much will solar panels save me annually on my electric bill in Saylorville?

Generally, Saylorville homeowners who install solar panels save approximately $917.34 per year, or approximately $17,429.48 over 20 years after making the switch.

Who installs solar panel systems near me?

To learn about the best solar panel installation companies near you, read our article on Saylorville's best solar panel companies.

What are some of the environmental benefits of switching to solar energy?

You can reduce your carbon footprint by 450 pounds of CO2 annually when you install solar panels. This adds up to around 9,000 pounds over 20 years. In addition, solar power is a renewable energy source, which means that switching your home over reduces the drain on our planet's resources.

When does the federal solar tax credit end?

The Clean Energy Credit (previously called the federal solar tax credit, or the 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.

Can I qualify for incentives both towards the initial cost of solar panels, and later as reimbursement?

The order that incentives will be applied in might vary depending on which incentives you are claiming but generally yes, you can claim multiple types of incentives for your solar project. Check with your solar installer or a local tax professional to confirm you are claiming all of the incentives you qualify for and applying them in the correct order.

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.

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