Bill > HF1850

This bill provides a temporary credit for the purchase and installation of solar energy systems in Minnesota. The credit is available to taxpayers who receive electric service from a municipal utility or cooperative electric association and install a solar energy system on their homestead or business property. The credit is equal to a percentage of the system's purchase and installation costs, up to a maximum amount of $5,000 for homesteads and $20,000 for business properties. The credit percentage declines over time, starting at 15% for systems installed in 2021 and decreasing to 11% for systems installed in 2023. The bill also establishes an annual cap of $5 million on the total credits that can be issued, with at least $2.5 million reserved for homestead installations.