President Donald Trump’s new budget law repeals a key federal tax incentive for residential solar — and rooftop solar installations are about to plunge as a result.
Americans are expected to install 33% less rooftop solar next year than they would if federal incentives were still in place, per an updated analysis from Ohm Analytics. That’s a better outcome than the research firm’s earlier, gloomier forecast, which was based on a version of the law that would have also scrapped a separate tax credit that applies to leased systems.
Already, residential solar is far more expensive in the U.S. than elsewhere, and high interest rates as well as recent state-level policy developments are eating further into the economics of buying panels. Even before the repeal, rooftop solar installations were declining year over year because of these trends.
Great Job Dan McCarthy & the Team @ Canary Media Source link for sharing this story.
