If you're thinking about going solar, you may want to expedite your plans, as Congress has proposed eliminating the solar tax credit by the end of this year.
According to the clean energy marketplace EnergySage, if changes to President Donald Trump's "Big, Beautiful Bill" — a tax reform and budget package passed by the House of Representatives — are passed by the Senate and signed into law, the 30% residential solar tax credit may no longer be available.
The tax incentives, also called the Investment Tax Credit, were initially planned to be offered through 2034 as part of the Inflation Reduction Act. However, if Congress axes the tax incentives, they could disappear by the end of the year, meaning Americans could miss out on $9,000 in savings on solar installations.
While EnergySage noted that a repeal of the solar tax credit isn't inevitable, as more changes are likely in the next several months, it also said "chances are high" that it will be eliminated. If you want to be on the safe side, you'll want to purchase and install solar panels by Dec. 31. Due to uncertainties regarding tax incentives, contractors are experiencing a surge in interest, so it's a smart idea to find an installer while they still have openings.
Since going solar is one of the best ways to save money on energy bills (possibly bringing them down close to $0) while reducing your home's pollution footprint, it's always a good time to invest in a rooftop system. According to EcoFlow, the average U.S. homeowner can save around $1,500 per year on electricity bills after installing solar panels, with varying results depending on location, system size, energy use, and other factors.
Thankfully, EnergySage can help you get started with its free tools, which offer instant solar estimates and allow you to compare quotes. Through its network, you can find vetted contractors to make your installation a breeze. Another EnergySage resource — its mapping tool — shows average installation costs in every state alongside more details on statewide incentives.
Although the future of the ITC is uncertain, taking advantage of the incentives sooner rather than later could be worth up to $10,000 if you use EnergySage's services. Not to mention, with the weather becoming increasingly unpredictable and power outages being reported more frequently, according to Climate Central, having a solar system with backup batteries ensures your lights stay on and provides added security.
"I'm telling my friends and family that if they've ever wanted to go solar, they should take action now," Charlie Hadlow, the president and chief operating officer at EnergySage, said.
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