This morning, the Iowa Supreme Court handed down a ruling that supports third-party power purchase agreements. This ruling is a win for the solar industry and sets an important precedent for future legal challenges to third-party ownership in other states, such as Wisconsin.
The following article posted on Business Record’s website contains more details regarding the ruling:
In a split decision, the court ruled, 4-2, with one abstention, in favor of Eagle Point Solar in the case filed against the Iowa Utilities Board. The ruling is expected to clear the way for additional municipalities or nonprofits, which cannot directly claim solar tax credits, to buy solar energy from non-utility third parties and take advantage of the credits.