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Wind is not the only renewable energy source that should be implemented in Iowa. Photovoltaic solar systems are also appropriate for homeowners in Iowa. First of all, Iowa receives more sun hours per day than Germany, the largest user of photovoltaic solar systems. Second, Iowa offers fantastic solar rebates. Iowa offers a Renewable Energy Production Tax Credit that applies to homeowners and photovoltaics at $0.01/kWh. Iowa also offers a Property Tax Exemption for Renewable Energy Systems that applies to photovoltaics. In Iowa, the market value added to a property by a solar energy system is exempt from the state's property tax for five full assessment years.
| Iowa provides for a Solar Energy Equipment Sales Tax Exemption that makes a photovoltaic purchase 100% exempt from Iowa sales tax. Farmers Electric Cooperative has Renewable Energy Rebates for residential photovoltaic solar systems that offers $1,000 for each kW purchased up to 5 kW. Independence Light & Power, Maquoketa Municipal Electric Utility and Preston Municipal Electric Utility have Renewable Energy Rebates for photovoltaic solar systems offering $2-$3 per projected annual kWh up to $10,000 and 20 kW or about 25% of the cost. Lastly, everyone in Iowa receives the Federal Solar Tax Credit of 30% of the cost of solar. In conclusion, a homeowner in Iowa with $10,000-$20,000 to invest to eliminate their utility bill will recognize a 8-10% return on their investment with relatively no risk and no volatility for 30+ years. Good luck finding a similar, tax free investment with a 8-10% return in the stock market or a CD. Don't we invest money so we can pay utility bills when we can no longer work (retirement)? Eliminate the utility company monthly expense with a solar system and you won't have to worry about when to take a loss on your stock to pay the electric bill. Wind or solar, generate your own power, stick it to the man and work less hours to pay your utility bill. |
