30 Percent Tax Credit ?

[kendive]

This is interesting.

Solar investment tax credit to be extended 10 years at 30%

As written in the Inflation Reduction Act of 2022, the tax credit will begin at 30% and step down to 26% in 2033 and 22% in 2034.

pv-magazine-usa.com

 

[Mike 134]

Yes I'm hoping it applies to 2022 installs currently 26%

 

[kendive]

Yes I'm hoping it applies to 2022 installs currently 26%

I guess you could wait to claim it the next year? Not sure how all that works.

 

[Mattb4]

I am utterly opposed to tax subsidies. If you think it is worthwhile you pay for it.

 

[cs1234]

In other news, solar panel installation companies won't be lowering prices for 10 years.

 

[Mike 134]

I am utterly opposed to tax subsidies. If you think it is worthwhile you pay for it.

Like you I'm opposed but if they apply to me then I'm 100% for them. Have to love our system!!!

 

[kendive]

I am utterly opposed to tax subsidies. If you think it is worthwhile you pay for it.

Make Hay when you can. LOL The govt steals from us so much. I will take anything they will give back.

 

[Mattb4]

Oh I will take anything that someone (including the government) is willing to give me. I stay opposed to the idea.

 

[Mattb4]

Make Hay when you can. LOL The govt steals from us so much. I will take anything they will give back.

The government is us. You can bet if they give with one hand they are robbing you blind with another.

 

[Risky Rob]

Will it cover 2022? I have already maxed out my tax liability with the 26% credit for this year. This might be justification to buy more panels.

 

[cs1234]

Will it cover 2022? I have already maxed out my tax liability with the 26% credit for this year. This might be justification to buy more panels.

Do we really need justification to buy more panels? Buying more panels is justification in and of itself.

 

[onokai]

Great news

 

[Risky Rob]

Do we really justification to buy more panels? Buying more panels is justification in and of itself.

I'm stacking dollars right now, because of the recession.

 

[cs1234]

I'm stacking dollars right now, because of the recession.

Solar panels stack almost as nicely.

 

[Risky Rob]

As of now, it's a proposed bill.

 

[Risky Rob]

Solar panels stack almost as nicely.

I single stack panels on my shed roof. They don't sit idle in enclosed buildings.

 

[cs1234]

I single stack panels on my shed roof. They don't sit idle in enclosed buildings.

Those are spares, you know how unreliable these pieces of junk are.

 

[Danke]

Oh I will take anything that someone (including the government) is willing to give me. I stay opposed to the idea.

It is not a grant. They are giving you nothing. Just stealing less from you when you file.

 

[Mattb4]

It is not a grant. They are giving you nothing. Just stealing less from you when you file.

Which means for those of us that don't file we get nothing.

 

[HighTechLab]

The thing is, too many companies just jack up the price by 30%. Homeowner feels like they got a good deal, and the solar contractor is thrilled they made 30% more money to do 0% more work.

 

[Danke]

The thing is, too many companies just jack up the price by 30%. Homeowner feels like they got a good deal, and the solar contractor is thrilled they made 30% more money to do 0% more work.

Hence this forum: DIY

 

[cs1234]

Which means for those of us that don't file we get nothing.

You'll eventually get something, that's for sure.

 

[OzSolar]

The thing is, too many companies just jack up the price by 30%. Homeowner feels like they got a good deal, and the solar contractor is thrilled they made 30% more money to do 0% more work.

I was looking forward to the tax credit going away and sending the majority of solar installation companies back to more honest endeavors like Brooklyn bridge sales and timeshares but alas...

 

[Mattb4]

You'll eventually get something, that's for sure.

I get to watch inflation happen. I guess that is a plus.

 

[Risky Rob]

Which means for those of us that don't file we get nothing.

The proposed bill calls for a refundable tax credit. If you spend $1000 on solar equipment, and don't have a tax liability, you could still get a refund of $300.