Solar Investment Tax Credit to Drop. Solar Installs to Increase.
Solar Investment Tax Credit to Drop.
The Solar Tax Credit, also known as the Investment Tax Credit or ITC, is set to drop by 13% at the end of 2019. Many homeowners who have been on the fence about going solar in recent years may be enticed to sign contracts in 2019. Taking advantage of the full 30% solar tax credit will help them save about $800 to $1000 more.
“We expect to see a 15% increase in solar permits being pulled for 2019 in San Luis Obispo County, California. That’s significantly up from a 25% drop in solar permits pulled between 2018 vs. 2017”, says Frank Scotti, market analyst for Solarponics, Inc.
But that may not be all good news. Scotti and the team at Solarponics anticipates being fully booked by mid July or early August. So, homeowners who wait may find themselves havng a hard time finding a qualified, local solar installer that can meet the deadline requirements.
On the commercial side, companies also stand to benefit the most by going solar in 2019. An array of corporations—including Budweiser, Gap Inc., and MGM Resort International—have invested in wind and solar energy recently, pushing spending above $16 billion last year, The Wall Street Journal reports. This growth is expected to double in 2019. That’s a lot of jobs created, and a lot of CO2 reduction!
Thinking of going solar in the near future? This is the year, and now is the time to GET YOUR FREE QUOTE.