As of the current information available in 2025, there are no entirely new solar incentives being introduced this year. However, existing incentives remain significant:
- Federal Solar Tax Credit (Investment Tax Credit or ITC): This continues to offer a 30% tax credit on the total cost of a solar energy system for homeowners and businesses. The credit will remain at 30% until 2032 and then begin phasing down.
- Residential Clean Energy Credit: Similar to the ITC, this credit provides a 30% incentive for qualified clean energy property, including solar panels, geothermal systems, and more, through 2032.
- Additional Incentives: The Inflation Reduction Act has introduced additional incentives such as extra credits for projects using U.S.-made components or located in low-income communities, which remain in effect.
- State and Local Incentives: Some states, like Illinois, offer specific programs like rebates and Solar Renewable Energy Credits (SRECs) that can further offset the cost of solar systems.
Despite uncertainty around future policy changes, particularly with shifts in government leadership, the current incentives provide substantial benefits for those considering solar energy installations in 2025.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/are-there-any-new-solar-incentives-being-introduced-in-2025/
