Qualifying air-source heat pumps can efficiently heat and cool your home with one unit. Time is running out on a long-standing federal tax credit for air-source heat pumps. The current $300 tax credit is due to expire on Dec. 31, 2021.
The tax credit also retroactively applies to new ASHPs installed in the 2018-20 tax years.
State (Iowa)
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Residential solar placed in service before Dec. 30, 2021, is eligible for a 11% state tax credit. There is no state tax credit after Dec. 31, 2021. Maximum $5,000 state tax credit for residential.
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Business solar whose construction began prior to Dec. 31, 2021 is eligible for a 11% state tax credit. Maximum $20,000 state tax credit for commercial.
Federal
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26% for systems placed in service after Dec. 31, 2019, and before Jan. 1, 2023
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22% for systems placed in service after Dec. 31, 2022, and before Jan. 1, 2024
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Maximum $20,000 federal tax credit
Contact Ryan Wagner at 888-788-1551 for more information.
