Iowa solar tax credits
HF 221 needs you!
Iowa solar tax credits are a mess. HF 221 is meant to clean up that mess by de-coupling from the federal law, increasing the annual cap, and paying down the very long waitlist.
HF 221 needs your support NOW! Please contact your state representative and state senator TODAY and ask them to vote FOR HF 221. In Howard County, they are Rep. Jane Bloomingdale (jane.bloomingdale@legis.iowa.gov) and Sen. Waylon Brown (waylon.brown@legis.iowa.gov).
Problems we need to fix:
- The Iowa tax credit is currently half of the federal one, but it refers to the OLD federal law, which makes is 11% this year instead of 13%. Next year it will be 0% instead of 13%. The best solution is to stop referring to the federal law. HF 221 says that Iowa’s credit is 15% (with project caps), regardless of the federal law.
- The current Iowa law caps the amount of credits awarded each year at $5 million. But solar has proven to be so popular with Iowans that the 2021 amount was fully spoken for before the end of 2020. HR 221 raises the annual cap to $10 million.
- The waitlist for the solar tax credits is now about $7 million. HF 221 establishes a one-time allocation to pay down the waitlist in 2021. Remember that these are tax credits that have already been earned!
The solar industry supports more than 850 jobs in Iowa, and has helped Iowa’s homeowners, farms, and businesses reduce their energy bills by accessing clean, local, renewable energy. HF 221 recognizes how good solar has been for Iowa. Ask Rep. Bloomingdale and Sen. Brown to support it.