Big News for Homeowners!
2020 has been throwing curveballs at every industry and solar is no exception. Luckily, this curveball is one you can hit out of the park. Renewable energy tax credits just received an extension in the federal spending package.
If you were planning on going solar, but weren’t able to make it in time to lock in the 26%, now is the time to move forward. Originally, the ITC was set to drop to 22% in 2021 and expire in 2022. The extension of the ITC means bigger savings for homeowners and businesses, as well as a step in the right direction for the environment.
The good news couldn’t come at a better time.
“We are heartened to see Congress step up to provide Americans with some relief after our country has been mired in a public health and economic disaster,” said Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association. “This pandemic has taken an immeasurable toll on American families, and our deepest sympathies are with those who have lost loved ones and those who are suffering economically because of the ongoing crisis. Over the next few years, we have an opportunity to build a stronger, more reliable, and more equitable American energy economy, and the action Congress is taking today is a helpful down payment.”
The extended ITC will drop to 22% in 2023, and drop to 0% for residential solar in 2024. Commercial and utility markets will sit at a permanent 10% credit beginning in 2024.
Sunnier days are on their way. Be prepared. Capture the sun and turn your roof into savings. Sign up and we’ll help make the switch easy and hassle-free – all for $0 down.
