UPDATE: Solar Tax Credits See Likely Return!

The Iowa Legislature completed their final day in this session weeks after their scheduled adjourning. It seemed very unlikely that the extension of rural solar tax credit funding would have happened. However, against all odds, the Legislature passed an extension of the Solar Tax Credit funding to those applicants who had applied prior to the 2022 calendar year.

To quote the language of the extension:

Sec. 67.  Section 422.11L, Code 2022, is amended by adding the following new subsection:
   NEW SUBSECTION.  7.  a.  Notwithstanding any other law to the contrary, the department may review or reconsider the following as if the credit did not expire:
   (1)  Applications for installations that were completed prior to the 2022 calendar year that were denied solely due to the expiration of the credit provided in subsection 1, paragraph “a”, regardless of whether the applicant appealed the denial.
   (2)  Pending applications and new applications for the credit provided in subsection 1, paragraph “a”, for installations that were completed during the 2021 calendar year as long as the application is received by June 30, 2022.

This is big BIG news! Now the only obstacle is the Governor’s signature, but it’s not at all likely that Reynolds wouldn’t sign off on the budget passed during the overtime session.

Importantly, if you, your solar contractors, or your fellow solar owners had solar installed in the last calendar year and have not submitted a tax credit application, the application must be received by June 30th to qualify. Very little time for those not already in the waitlist, so act fast.

Special thanks to all of our fellow solar energy allies, partners, and constituents inside and outside the legislature. This would not have happened without you!