The Republican-controlled House of Representatives is moving forward with a proposed plan to end the solar panel tax credit much earlier than planned.
The scoop
According to EnergySage, the House Ways and Means Committee is considering significantly accelerating the stoppage of federal tax credits for the installation of solar panels on your home. Currently, the tax credit would be in place until 2035, but the proposed budget would ax the program at the end of 2025.
"If Congress eliminates the ITC without a reasonable phase-down, that's obviously going to cause immediate disruption within the solar industry," Aaron Nichols of Exact Solar told EnergySage.
How it's helping
Solar panels are a fantastic way to immediately reduce your carbon footprint and save big on your energy bill each month. They reduce your reliance on the local power grid, which can be powered using dirty energy sources like oil and natural gas. And the federal tax credit makes them more affordable and accessible for families and households across the country.
If you want to take advantage of these tax credits before they disappear, EnergySage's free tools are available. They can help you get in touch with vetted, reputable installers and get free quotes quickly in your area. With their assistance, you can save up to $13,000 on your panel installation, as they'll maximize the amount of money you can get through the federal tax program.
Without the program in place, panel installation is going to be much more expensive and may not happen as quickly, as the loss of business from increased prices could see companies shutter, giving you fewer options to choose from.
What everyone's saying
While the bill's future is in peril, its fate isn't sealed yet. Contact your representatives to tell them to keep fighting to keep the solar tax credit program alive.
With so much uncertainty surrounding the program, it's best to take advantage of it now while you know you can still reap the benefits and save thousands of dollars. The free tools from EnergySage are the best way to ensure you're getting the best deal possible, from installers you can trust.
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