Iowa signs bill to add tax credits for utility solar projects

Iowa is joining in on the solar movement popularized in other states such as California to save money and ward off climate change. The Newton Daily News reports that Iowa Governor Terry Branstad signed the HF 645 bill into law, which will add production tax credits for utility solar projects and also increase the state’s solar energy tax credits. It was passed with unanimous bipartisan support in the state Senate and pushed by state Senator Rob Hogg (D-Cedar Rapids).

The bill will add $500,000 to the state’s solar energy tax credits and let utilities become eligible for tax credits allocated for solar power projects. Many legislators were supportive of the bill, like Hogg, which will bring the total number of solar tax credits in the state to $5 million each year. The allowance of tax credits was first passed in 2012, which has aided more than 1,200 solar installation projects, adding around $50 million in solar investments and almost 1,000 jobs in the state.

Rep. Dan Kelley (D-Newton) said this law will provide further growth to the state that is quickly accepting and implementing solar power. This expansion will allow for more solar installations, maintenance positions, create new solar projects, and save the environment through wider use of a renewable energy source.

“Solar works for Iowa,” said Senator Rob Hogg (D-Cedar Rapids) who managed the bill in the Iowa Senate, where it passed with unanimous bipartisan support. “This legislation will accelerate the growth of the solar energy industry in Iowa. That’s good for the environment and our economy. Solar energy is already working for thousands of businesses, farmers and homeowners across our state.”

Contact SolarMax Technology to install your residential solar panels today.

by Philip Small July 2, 2015 No Comments Post: Uncategorized

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