If you're in a hurry to get solar panels installed before the federal solar tax credit ends, you're not alone.
A new survey from Electrek shows that nearly 39% of respondents are "deeply concerned" about the credit ending at the end of this year and have moved up plans to get solar panels at their home before it disappears.
"That response suggests the industry could see a meaningful surge of demand in the final quarter of the year as households look to lock in tax benefits while they still can," Electrek writes.
The federal solar tax credit, which can knock 30% off the price of solar installations, was scheduled to end in 2035. But changes in federal policy and legislation mean that credit and funding for many other eco-friendly programs and initiatives will expire much earlier.
The good news is that there's still time to take advantage of the solar tax credit, so long as a percentage of the installation costs is paid by the end of this year. EnergySage can connect you with verified, local installers, and its free tools allow you to quickly and easily compare quotes from those companies.
Installing solar panels not only reduces your reliance on dirty, fossil fuel-driven energy from the grid, but it also can reduce your monthly bills. By generating your own clean energy (especially if you pair your panels with a battery storage system), you can significantly reduce your electric costs, sometimes to nearly $0.
Around 19% of Electrek survey respondents said they knew about the solar tax credit but that it wouldn't impact their solar plans. And 16.4% said they didn't even know the federal incentives existed.
To see what incentives are available where you live, check out EnergySage's free mapping tool, which also shows the average installation cost for each state. EnergySage estimates that the average homeowner can save up to $10,000 on solar installations by using its free services.
Save $10,000 on solar panels without even sharing your phone number Want to go solar but not sure who to trust? EnergySage has your back with free and transparent quotes from fully vetted providers that can help you save as much as $10k on installation. To get started, just answer a few questions about your home — no phone number required. Within a day or two, EnergySage will email you the best local options for your needs, and their expert advisers can help you compare quotes and pick a winner. |
For those who don't want to worry about the upfront costs of buying a solar panel system, leasing options also exist. Palmetto's LightReach program offers homeowners the option to lock in low monthly energy rates and reduce their reliance on the grid, all with no down payment.
And for those who really want to take advantage of solar power, pairing it with other electric appliances — like an energy-efficient heat pump — is the ultimate hack, bringing utility costs down even more. Mitsubishi's network of trained professionals can help you find the right installer and heat pump for your home and budget.
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Does losing solar tax incentives impact whether or not you'll add panels to your home?
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Absolutely 😞 
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