Renewable Energy Tax Credits
Iowa Code Chapter 476B established a state production tax credit for energy generated by qualified wind energy facilities and sold or consumed on-site. Qualified facilities had to be placed in service on or after July 1, 2005, but before July 1, 2012. The program capacity limit has been reached. The tax credit certificates are transferable and may be applied toward the state's individual income, corporation income, franchise, insurance premium, sales and use, or replacement tax.
Iowa Code Chapter 476C established a state production tax credit for energy generated, sold, or consumed on-site by eligible wind energy facilities and certain non-wind renewable energy facilities. There is program capacity still available; however, one of the eligibility requirements is the facility had to be placed into service on or after July 1, 2005, and before January 1, 2018. The tax credit certificates are transferable and may be applied toward the state's individual income, corporate income, franchise, insurance premium, sales and use, or replacement tax.
To qualify for the tax credits
Wind and other renewable energy facilities must first receive a preliminary eligibility determination from the Iowa Utilities Board. The information required in eligibility applications is available for viewing or download. Eligibility applications must be filed using the Board’s Electronic Filing System. The Board's rule at 199 IAC 15.19 describes the 476C eligibility application process.
See the list of facilities granted preliminary eligibility determination by the Board, which is available for viewing or download in MS Excel format.
Following a preliminary eligibility determination, owners of eligible facilities may apply for tax credit certificates. Tax credit applications are processed via the web-based (Tax) Credit Award, Claim, and Transfer Administration System (CACTAS).
Applicants can access the CACTAS system at https://taxcredit.iowa.gov/home. A frequently asked questions document about the application process is available at https://rew-taxcredit.iowa.gov/Faq.
For more information, email the Iowa Utilities Board at firstname.lastname@example.org or call 515.725.7300.