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N.R.Mallery

The End of Home Solar Tax Credits Could Actually Be Good for Solar — and You

“Like Cinderella rushing home from the ball, Americans are racing to buy solar panels before the clock strikes midnight,” The Climate Coach said. At the end of this year, solar tax credits, of up to $8,000 will go away. They helped homeowners in the U.S. install thousands of megawatts of solar panels, which was great.

If you have been weighing whether to go solar, you might feel now is the moment. If you are not ready to make the leap, you may worry your chance is slipping away.

Yes, the clock is soon striking midnight. Although the fossil fuel industries want solar to collapse, clean renewable energy options will survive! Solar and renewable energy are here to stay and will continue to progress.

Getting rid of subsidies could wind up being good for the future and affordability of solar in our country. The Climate Coach adds, “It could force the industry to address the issues that have made installing solar more expensive in the U.S. than elsewhere in the developed world.” The article also pointed out that “residential solar is a mature technology and should no longer need subsidies.”

Out-of-pocket costs will rise in the short term with the end of tax credits. Predictions show a temporary drop in the pace of installations. But remember, although it seemed hopeless, Cinderella and the prince still found their way and lived happily ever after! So will the future of solar in our country. Despite setbacks to the industry, solar will continue to move forward. It is still the lowest cost for electricity. Please read the front page article in the July issue of Green Energy Times, “Solar Without Incentives is Still the Lowest Cost for Electricity.”