What types of tax incentives are available for solar?

The federal government offers a 30% tax credit off the entire cost of the system (including materials and labor) through 2032. If you don’t have enough tax liability to claim the entire credit in a single year, you can carry the remainder over the following 20 years.

In Missouri, commercial, industrial, residential, and agricultural solar installations not held for resale are 100% exempt from property tax increases that would otherwise result from value-added construction on your property. Businesses may also depreciate their solar assets.

What kinds of rebates are available for solar?

The cost of a solar system is dependent on the rebates and incentives available to the customer and is based on their electrical utility provider. For example, Ameren Electric customers can qualify for a rebate of $250 per kW off the cost of the solar system.

Which solar programs could help agricultural producers?

USDA REAP

The Rural Energy for America Program (REAP) provides a grant to purchase, install and construct renewable energy systems for up to 50% of a solar project’s cost. REAP loans can cover up to 75% of the cost of a project. The combined amount of a REAP grant and loan guarantee must be at least $5,000 (with the grant portion at least $1,500) and may not exceed 75% of the project’s cost.

Accelerated Depreciation

The Modified Accelerated Cost Recovery System (MACRS) allows farmers to deduct 85% of the value of qualified solar equipment over a five-year period.