Will the Federal Tax Credit for Solar Panels Continue to Go Down?

Nov 25, 2020

Will the Federal Tax Credit for Solar Panels Continue to Go Down?Since 2005, homeowners who invested in solar panels were able to receive a 30% federal tax credit to help with the cost of the system. However, that tax credit expired in 2019. There’s good news, though: Until 2022, homeowners can still receive a significant tax credit for solar panels! In 2020, homeowners can receive a 26% tax credit and in 2021, homeowners can receive a 22% tax credit. In 2022, only commercial solar energy systems will qualify for a federal tax credit (10%). There will be no tax credit for residential customers going forward.

What Does This Mean for You?

If you’ve been waffling on the idea of investing in solar panels, now’s the time to do it. After all, you want to be able to take advantage of this tax credit! The team at Byers is here to help you with this important decision. We will be happy to discuss all of the benefits—monetary and environmental—you can receive from solar panels and even tell you about some additional financing programs to help with the cost of the system.

At Byers, we install sleek, powerful solar panels from SunPower®. These solar panels offer the highest efficiency rate in the industry (22%) and deliver oodles of power, style, and reliability. Plus, they are backed with a 25-year warranty that covers the whole system, not just the panels, to ensure you can count on premium performance for decades to come.

Don’t wait any longer to receive the solar panels you’ve been wanting for your home. Take advantage of the tax credit that’s still available and call Byers today to get started. We serve homeowners throughout Northern California.

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