Want to Claim the Solar Tax Credit? Get Installing Now
1 min read
Summary
The US House of Representatives has proposed ending a 40-year run of federal tax incentives for domestic solar power at the end of the year, which, if it passes the Senate, “would put solar out of reach for millions of people”, according to the policy and advocacy director of Solar United Neighbors.
The proposed change to the tax credit, which applies to 30% of the cost of a system until 2032, would still allow the credit for systems installed this year, but it would then be completely withdrawn.
Solar systems currently cost around $28,000 on average across the US and an end to the credits could mean that the uptake of domestic solar installations slows down significantly unless installed this year.
The House also favours applying limits to where the material in photovoltaic panels comes from, effectively barring Chinese-made components.
