US EditionState of the Solar Industry as GOP Eliminates Homeowner's Tax Credits
- House Republicans proposed ending key clean energy tax credits 48E and 45Y by 2031, affecting the U.S. Clean energy sector and homeowners.
- The 2022 Inflation Reduction Act prolonged federal incentives for solar energy through 2034, supporting the creation of hundreds of thousands of jobs across the country.
- Industry analysts expect a rush of solar installations before the credits expire, followed by sharp declines in projects and job losses, especially in states like New Jersey.
- The repeal is projected to increase utility costs in New Jersey by more than 13%, result in the loss of over twenty-two thousand jobs, and decrease the state's economic output by approximately $3.24 billion, with officials warning that these effects would be severely damaging.
- Removing these tax credits may stall solar growth, increase reliance on fossil fuels, raise energy costs, and jeopardize clean energy progress in at least 19 states.
7 Articles
7 Articles
Ely: Knee-jerk reaction to solar incentives
The “Big, Beautiful Bill” currently being floated in Congress affects virtually every American and reaches deep into so many areas of need. One such area is a subset of the Inflation Reduction Act (IRA), namely, the discontinuation of the residential solar electric and energy storage Investment Tax Credit (ITC) slated to end on Dec. 31, 2025. The ITC was initiated by the George W. Bush administration in 2005 and has proven tremendously successfu…
Solar Companies Slump as GOP Targets Earlier End to Tax Credits
Shares of solar companies slumped after conservative Republican lawmakers said they had secured a commitment from leadership to end key clean-energy tax credits earlier than planned, part of a sweeping deal aimed at allowing President Donald Trump’s giant tax and spending package to advance.
House Republicans push to end solar tax breaks, putting rooftop systems out of reach for many
For nearly 20 years, federal tax credits have helped homeowners afford rooftop solar panels, but a new House proposal would end those incentives at the close of 2025, potentially stalling solar growth and driving up energy costs for families.Tik Root reports for Grist.In short:House Republicans proposed ending the 25D solar tax credit — a key incentive that offers homeowners a 30% break on solar installation costs — by the end of this year, inst…
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