The impact of the Trump Administration’s “Big Beautiful Bill” (BBB) is being felt across America, with detrimental effects on health, economy, and global standing. However, one area where it has not hindered progress is in the adoption of rooftop solar systems by US homeowners.
Companies like Tesla and Rivian have been hit hard by the early termination of the $7,500 Federal EV tax credit and the elimination of carbon tax credits, affecting the electric vehicle market. Additionally, the expiration of the 30% tax credit for home solar systems at the end of 2025 has caused some homeowners to believe they missed their chance to go solar.
But the reality is that it’s not too late. Homeowners can still take advantage of a full 30% federal tax credit for 2025 if they have solar installed by December 31st. And even without the tax credit, installing a home solar system with battery backup storage can still provide a positive return on investment.
The benefits of home solar extend beyond tax credits. By producing your own energy at a lower cost than buying it from the utility, you can save money, especially as energy prices are predicted to rise in the coming years. Additionally, a home solar system can help insulate your home, reducing the need for excess energy consumption for heating and cooling.
Studies have shown that solar panels can help keep homes cooler in the summer and warmer in the winter, leading to energy savings and increased comfort. By generating clean energy and potentially putting excess energy back into the grid, homeowners can contribute to lowering wholesale electricity prices.
Considering the rising costs of energy and the potential financial benefits of solar, it may be worth exploring financing options for a solar package. Consulting with a financial planner or fiduciary advisor can help determine the best approach for your specific situation.
In conclusion, despite the challenges posed by the BBB, it is still a viable time for homeowners to consider installing a home solar system. The benefits of solar energy go beyond tax credits, offering long-term savings, energy independence, and environmental benefits. By taking action now, homeowners can secure a brighter, more sustainable future for themselves and their families.
