MN HF4082

Temporary refundable income tax credit for taxpayers served by municipal utilities or cooperative electric associations who purchase and install solar energy systems (photovoltaic devices up to 40 kilowatts, solar water heaters, or solar thermal systems, with or without energy storage)

Credit percentage decreases over time: 15% for systems placed in service in 2025, 13% in 2026, and 11% from 2027-2028

Maximum credit capped at $2,500 for homestead installations and $15,000 per business property

Credit is fully refundable, meaning taxpayers receive the full amount even if it exceeds their tax liability, with refunds appropriated from the general fund

Program expires January 1, 2029, applying only to taxable years 2025-2028