Last Year for Full 30% Solar Federal Tax Credit

This is the last year for the 30% Federal Tax Credit for solar.

The 30% Federal Tax Credit for solar installations has been a great incentive for people to add solar power to their homes or businesses. But as they say, all good things must come to an end. This is the last year that the full 30% tax credit will be available when you add solar to your home. The tax credit decreases to 26% in 2020, then goes down to 22% in 2021. Starting in 2022, the federal tax credit disappears for residential solar.

If you were considering adding solar power to your home, now is the time to do it, while you can still take advantage of the 30% tax credit. There is an IRS safe harbor in place, and as long as you have a signed contract with a solar installer and a 5% down payment in place by December 31st of this year, you then have until January 1, 2024 to complete the solar installation and put it into service.

Solar Industry: California Makes Historic Decision to Incorporate Solar On All New Homes

Source:  Solar Energy Industries Association (SEIA)

Wednesday, May 09 2018

Press Release

WASHINGTON, D.C. – Today, the Solar Energy Industries Association (SEIA) welcomed California’s approval of a new policy that will require virtually all new homes in the state to incorporate solar panels starting in 2020. The California Energy Commission voted today to adopt the policy as part of the state’s Building Energy Efficiency Standards after working with SEIA, its member solar companies, and other stakeholders for more than two years to develop the technical requirements.

Following is a statement from Abigail Ross Hopper, SEIA’s president and CEO:

“This is an undeniably historic decision for the state and the U.S. California has long been our nation’s biggest solar champion, and its mass adoption of solar has generated huge economic and environmental benefits, including bringing tens of billions of dollars of investment into the state. Now, California is taking bold leadership again, recognizing that solar should be as commonplace as the front door that welcomes you home.

“SEIA appreciates the Commission’s efforts to help California take steps toward meeting its Zero Net Energy goals by integrating renewable energy with energy efficiency. The combination of rooftop solar and the option to add energy storage systems as an efficiency compliance credit provides builders with an attractive, cost-effective option to fully electrify homes.

“Other states may not be ready for this step yet, but this is a precedent-setting policy — one that will bring enormous benefits and cost savings to consumers. It is my hope and belief that when other states, many of which are developing rapidly growing solar markets of their own, see the benefits of this policy, they will develop similarly aggressive policies.”

About California:

California is the nation’s leading solar market, with more than 21 gigawatts of solar installed — five times more than any other state and nearly 40 percent of the total solar installed in the U.S. The solar industry has created $43 billion of investment in California’s economy and employs more than 86,000 Californians, a number that will grow under this new policy.