There's a run on solar panels as savvy homeowners move to secure 30% federal tax rebates that are expiring at the end of the year.
The valuable perks are ending early due to government policy changes. As a result, Michigan public radio station WKAR reported that installations are up greatly ahead of the Dec. 31 deadline.
"A lot of people have been telling me, 'I wish I would have done this five years ago' when they first started thinking about it or looking at it, and turning into 'how quick can you do it?' It's a lot happening very fast," Absolute Solar's Adam Phelps said in the story.
Phelps added that the Lansing business has seen a 200% or more increase in business since July, when the budget bill that ends the incentives was passed.
Adding a household array is a great way to reduce or even eliminate your utility bill, as well as cut harmful, plant-warming air pollution. The fumes are linked by experts to greater chances for severe heat waves and droughts that are impacting even our food supply through feared farm labor productivity loss and crop damage.
EnergySage is a great resource to help you get started. The free tool compares quotes and can aid your search for the right professional installer in your area.
The Solar Energy Industries Association reported that there are more than five million installations in the United States, most of them on rooftops. A government report said that 1.2 million Americans claimed tax incentives for solar and other clean energy upgrades on their 2023 tax returns.
Unfortunately, most of the incentives are sunsetting early, along with other household rebates. But WKAR's story said that solar credits for business and nonprofit projects last into 2026 and 2027, per Phelps.
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"There is a little bit of a larger window," he said in the story.
EnergySage's guidance can make sure you collect all applicable rebates, saving you up to $10,000. There's also a helpful mapping tool that compares costs by state, as well as localized incentives. What's more, EnergySage can help you upgrade elsewhere around the house. Its experts have great advice for efficient heat pumps, for example. It's an HVAC switch that the government said can reduce home electricity use for heating by up to 75%. The units also provide energy-efficient air conditioning and can operate in almost any climate.
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Which of these factors is the biggest obstacle preventing you from getting solar panels? Click your choice to see results and speak your mind. |
The upfront cost 💰 Fast action is important to secure residential project incentives — including up to $2,000 in tax breaks for heat pumps — before they expire at the end of the year.
"If you've been thinking about installing solar panels, now may be your last chance to cash in on a major federal tax incentive," WKAR's Ed Coury wrote.
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