The greatest financial incentive for Nebraska and Iowa residents interested in solar, wind and other renewable energy is the Federal tax credit. Although the 30% Federal tax credit is the largest incentive, there are additional incentives in both states for energy efficiency and low interest loans (see www.dsireusa.org for more details).

The Federal solar tax credit is due to expire December 31, 2023. Systems need to be operational by that date to be eligible. Consulting your tax advisor is highly recommended because information provided here may not be applicable to your situation.

Residential and commercial properties are eligible for a 30% tax credit with no cap, meaning no upper limit to equipment and installation.
For example, a solar system costing $10000 would have a $2600 tax credit for a net cost of $7400 (if the full credit was utilized). Commercial properties are also eligible for depreciation with recent tax changes allowing for the full amount in one year. The net result is that the solar system could be generating income from day one of operation.

The tax credit can be carried forward one year for personal use. If you can not use the full credit in one year, you can carry the balance over and use it in the following year. Commercial tax credit can be carried forward and backward. Please consult your tax advisor prior to purchasing any solar system for the latest updates. They likely will not know specific information so you can refer them to www.dsireusa.org