News Update: 30% Residential Solar Tax Credit is Ending in 2025!
Solar panel systems qualify for a number of rebates, tax credits, and incentives. These programs can reduce the cost of your system by 30% or more, depending on where you live and who your utility provider is.
Federal Investment Tax Credit (ITC)
The Federal Residential Solar Tax Credit covers 30% of your system cost, often worth $6,000 to $10,000 in savings. This credit is now set to expire at the end of 2025. Therefore, now is the time to explore your options, start planning, and see if solar makes sense for your home.
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Example Savings
In the example below, the net cost of a 6kW Olson Solar Energy system in La Crosse, WI, is nearly 45% less than the gross cost. These savings come from an Olson Solar Energy referral bonus, a Focus on Energy cash rebate, and the Federal ITC.
Other State Incentives
Additional state incentives are currently available in Iowa and Minnesota.
There’s been recent changes in the existing USDA Rural Energy for America Program – now awarding up to 50% of eligible project costs for the purchase, installation and construction of renewable energy systems! This program is designed to help increase American energy independence by increasing the private sector supply of renewable energy and decreasing the demand for energy through energy efficiency improvements. Over time, these investments can also help lower the cost of energy for small businesses and agricultural producers. – Learn More
