Solar Energy Credit Increases
on Tuesday, September 27, 2016
CFU Simple Solar unit holders will see an increase in the solar generation monthly credit on utility bills starting in October.
In 2015, the state legislature passed an expansion of the Iowa Renewable Energy Production Tax Credit. CFU quickly applied to be first in line for the capped program.
Eligibility was recently confirmed, and we expect the Cedar Falls solar project to receive the state tax credit for ten years.
Because of the tax credit, the CFU solar energy credit will increase by 1.5 cents per kilowatt-hour of production.
The 35% increase brings the total 2016 credit to $.05502. The solar credit is calculated by CFU annually and reflects market energy supply costs.
Since the array was completed this spring, energy output has been strong. Through the first five months in service, the solar panels have produced 1,432 megawatt-hours of electricity.
Customers who would like to purchase solar units may contact CFU to be added to a wait list of interested customers.
New purchases occur in November each year if units are available. Interested customers must sign up by October 31 to be eligible to purchase units this year.
To sign up, call 266-1761 or email email@example.com.