Benefits of Solar in Iowa
There are several reasons to go solar in any state, but here are some specific reasons backed with data why Iowa is a great place to make the investment.
Electricity bill savings - The average homeowner in Iowa pays around $107.78 per month for electricity. Annual average savings with solar on a home is $1,293.
Home resale value - Zillow estimates that the average home gains 4.1% in value after solar installation. For Iowans, the average home value is $183,155, so based on this average, a bump of $7,509 can be expected. This estimate can be increased easily depending on the area of the home.
Solar Incentives - in addition to the Federal tax credit available, Iowa has some perks for homeowners as well
-Iowa Solar Easement and Access laws: guarantee homeowners the ability to
install panels regardless of HOA rules.
-Property Tax Exemption: usually an increase in home value would bump up your
property taxes, but in Iowa, this exemption prevents taxes from increasing from
solar panel installation.
-Sales Tax Exemption: Solar equipment and installation is sales tax free
-Net Metering: Required in Iowa, this helps offset energy bills by using energy you
overproduce back to the grid for a credit (see previous blog about this)