What types of tax incentives are available for solar?

The federal government offers a 26% tax credit off the entire cost of the system (including materials and labor) through 2022. The credit decreases to 22% in 2023. 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 financial assistance to purchase, install and construct renewable energy systems for up to 22% 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.