MN SF441

Creates a 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% for 2026, and 11% for 2027-2028

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

Credit is fully refundable, meaning taxpayers receive the excess amount if the credit exceeds their tax liability

Credit expires January 1, 2029, applying only to taxable years beginning after December 31, 2024