Congress threatens to kill the residential solar tax credit by year’s end 2025

[Ecovault Solar]

https://www.energysage.com/news/congress-threatens-to-kill-residential-solar-tax-credit/

Big changes are on the horizon for solar incentives. Congress is considering proposals that could reduce or eliminate the 30% federal solar tax credit by the end of 2025. This means that homeowners and businesses looking to invest in solar energy might miss out on substantial savings if they delay. Why Act Now?

Maximize Savings: The current 30% tax credit can significantly reduce your solar installation costs.

Energy Independence: Lower your utility bills and protect against rising energy prices.

Environmental Impact: Contribute to a cleaner, greener planet by reducing your carbon footprint.
The window to take full advantage of the solar tax credit is narrowing. By starting your solar project now, you can lock in the maximum benefits before potential policy changes take effect. Don't Miss Out! Learn more about pre-designed solar kits that are DIY-friendly and easy-to-install.

 

[chrisski]

Personally think it should go. I hope the tax credit is gone by the end of the year.

I read that article and one more and I get the impression energy sage may not make good predictions.

I don’t believe a word in the article is true.

 

[Zwy]

https://www.energysage.com/news/congress-threatens-to-kill-residential-solar-tax-credit/

Big changes are on the horizon for solar incentives. Congress is considering proposals that could reduce or eliminate the 30% federal solar tax credit by the end of 2025. This means that homeowners and businesses looking to invest in solar energy might miss out on substantial savings if they delay. Why Act Now?

Maximize Savings: The current 30% tax credit can significantly reduce your solar installation costs.

Energy Independence: Lower your utility bills and protect against rising energy prices.

Environmental Impact: Contribute to a cleaner, greener planet by reducing your carbon footprint.
The window to take full advantage of the solar tax credit is narrowing. By starting your solar project now, you can lock in the maximum benefits before potential policy changes take effect. Don't Miss Out! Learn more about pre-designed solar kits that are DIY-friendly and easy-to-install.

A business will still get the depreciation of a capital expense such as solar panels. 100% of the cost can be depreciated or 179 expense up to $1,220,000.

I can sensationalize too, many companies selling solar products will be out of business. These companies will face dwindling sales and less profit margin due to competition and the declining gross sales. They will have to cut their prices in order to possibly stay alive which is win for end users as they will be able to buy components at a discount.

 

[chrisski]

They will have to cut their prices in order to possibly stay alive which is win for end users as they will be able to buy components at a discount.

Except for DIY, installers have quite the mark up for gear. Plenty of room there.

 

[740GLE]

Except for DIY, installers have quite the mark up for gear. Plenty of room there.

The private company installers still cry foul from lost jobs. I wonder if a compromise will be a slow ramp down over next 5 years.

 

[chrisski]

The private company installers still cry foul from lost jobs. I wonder if a compromise will be a slow ramp down over next 5 years.

I don’t even think the article is real. I hope it is.

 

[Tulex]

Nothing like the good old scare tactic to bring in customers.

 

[chrisski]

I see now the OP’s company is in the business of getting solar to commercial businesses.

 

[Isaac-1]

I never liked the implementation of it, and when you look at things from the macro scale there is a lot to the theory that excess residential solar leads to grid instability.

 

[SunDave]

I see now the OP’s company is in the business of getting solar to commercial businesses.

Definitely looks like an ad.

 

[robby]

We seem to be going in the opposite direction of what science is telling us to do.
Anyway I know I am in the minority on this one but lets see what happens this August when the real heat sets in.
BTW that story is everywhere so it must be true.
Yahoo News

 

[JustFloyd]

Between installing energy efficient low-e windows and my solar purchases I got a good tax credit last year. Lots of people get govt money. 1st time in my life that I got some. I'll take it!

 

[M Dub]

Between installing energy efficient low-e windows and my solar purchases I got a good tax credit last year. Lots of people get govt money. 1st time in my life that I got some. I'll take it!

You didn't get COVID money? That's hard to believe. I didn't even apply for it, they added it to my tax return anyway.

 

[Brett V]

https://www.energysage.com/news/congress-threatens-to-kill-residential-solar-tax-credit/

Big changes are on the horizon for solar incentives. Congress is considering proposals that could reduce or eliminate the 30% federal solar tax credit by the end of 2025. This means that homeowners and businesses looking to invest in solar energy might miss out on substantial savings if they delay. Why Act Now?

Maximize Savings: The current 30% tax credit can significantly reduce your solar installation costs.

Energy Independence: Lower your utility bills and protect against rising energy prices.

Environmental Impact: Contribute to a cleaner, greener planet by reducing your carbon footprint.
The window to take full advantage of the solar tax credit is narrowing. By starting your solar project now, you can lock in the maximum benefits before potential policy changes take effect. Don't Miss Out! Learn more about pre-designed solar kits that are DIY-friendly and easy-to-install.

Looks like you’re going to have to be competitive like every other industry. How good are you?

 

[fatjay]

Fingers crossed, i hope it goes. No reason to have it or any other subsidies.

 

[glandpuck]

People get the government they deserve. Republicans all along said they are against any government support for anything but coal, fracking, drilling for oil and natural gas. Nothing surprising here then. The only difference is that by ending these benefits which apply to persons of the middle class and above, the money savings gets transferred to the wealthy and corporations and their share holders. Heat pumps for ventilation and hot water don't get built or installed which cuts down on profitable jobs for the installers and manufacturers. In the meantime El Presidente` says he wants oil at $50 a barrel and gas at $2.50 a gallon. That can't happen in California where the refineries are simply shutting down to maintain $5 gasoline and all refined gas would have to be sent in by ship from other countries. So the elimination of these tax credits really hurts the state of 40 million persons who have come to rely on solar power and electric vehicles to keep the air clean and people moving. In other states, the increased carbon emissions will continue to expand, the planet will heat up more and the weather events more frequent and more powerful while the air has more harmful particulates and other pollutants being inhaled by humans and their animal food supply. So mankind will just live and or die with the choices it makes. What I am really afraid of is that the average IQ of 100 simply doesn't have the will to always make the sound decisions at the voting booth.

 

[Zwy]

Is someone trying to ruin a thread again?

 

[jeeptj12]

https://twitter.com/x/status/1922673762278760773

Thomas Massie posted the 30% goes away for the consumer but the subsidies stay for corporations. If they are going to go, they need to go for everyone. We can't be half in and half out on capitalism and free market principles.

 

[Tulex]

Is someone trying to ruin a thread again?

Did you actually read the first post? Wait, your the person who asks, Hey, who's talking during the commercial?

 

[SunDave]

You didn't get COVID money? That's hard to believe. I didn't even apply for it, they added it to my tax return anyway.

I can confidently say I didn't get covid money, financial crisis stimulus money, or our state's version of the aforementioned. They said I worked too hard, and made too much money so I didn't "qualify". Not sure how that makes sense. But here we are.

 

[Q-Dog]

I can confidently say I didn't get covid money, financial crisis stimulus money, or our state's version of the aforementioned. They said I worked too hard, and made too much money so I didn't "qualify". Not sure how that makes sense. But here we are.

That's odd. I'm retired, make a shitload of money from investments, benefitted rediculously from the Trump tax cuts, and still got sent all kinds of Covid stimulus money. It really was absurd.

 

[blrmaker]

Like congress has done anything yet. They will not get this done just like any of maybe more important stuff.

 

[SunDave]

That's odd. I'm retired, make a shitload of money from investments, benefitted rediculously from the Trump tax cuts, and still got sent all kinds of Covid stimulus money. It really was absurd.

I think it was based on earned income. Which is odd. Pay in more, get less. I guess there were 3 rounds of covid stuff I missed out on, plus the previous economic ones. Maybe that is some of the difference between people when they discuss this stuff. Some benefit, some pay for the benefits. I'm glad I'm in a position to do so, but it does suck that I could work less and then be eligible for the goodies. Feels like I'm the dummy for earning a living.

Normally, a taxpayer will qualify for the full amount of Economic Impact Payment if they have AGI of up to $75,000 for singles and married persons filing a separate return, up to $112,500 for heads of household, and up to $150,000 for married couples filing joint returns and surviving spouses. Payment amounts are reduced for eligible individuals with AGI above those levels.

 

[JustFloyd]

You didn't get COVID money? That's hard to believe. I didn't even apply for it, they added it to my tax return anyway.

Now that you mention it, I did get covid money. But like you I never applied for it. It was just a freebe and if I recall it was a few hundred bucks. I applied for the solar/energy credits

 

[JustFloyd]

What I am really afraid of is that the average IQ of 100 simply doesn't have the will to always make the sound decisions at the voting booth.

I'm not sure if IQ is the issue as much as common sense is not common any more... or what we used to call common sense has become uncommon.