Vital things about solar in the USA include tax credits now extended to 2021. Both are 30% for installs that begin in 2019, then 26% in 2020 & 22% for projects that begin in 2021.
Residential credit is planned to cease after 2021, and commercial and utility credit to remain at 10%. Commercial and utility projects that commenced construction before December 31, 2021, may still qualify for the 30% to 22% if finished and working before December 31, 2023.
Vital things about solar in the USA – solar tax credits work
This excellent USA system assisted USA’s residential and commercial solar installation to increase by over 1,600% since 2006. That’s a compound annual growth of 76%. It enables home-owners to use the credit to offset their personal income tax. It applies when home-owners buy the systems outright and have them installed on their homes. In the case of the Section 48 credit, the business that installs, develops and/or finances the project claims the credit.
Vital things about solar in the USA – how much does US home/business solar cost?
In early 2019 a good US solar system costs about US$3.10 per watt: about US$18,500 for the commonly-used 6 kW system (prior to tax credits).
This current cost is very much higher than in many other countries. That 6 kW system costs under A$5000. Why it is so costly in the USA seems unclear (it is over twice that of the far smaller market in Australia).
Our related books are Solar That Really Works (for boats, cabins, travel trailers, motorhomes, and small homes). Solar Success is for homes, businesses and properties. Either (or both) can be bought and downloaded right now. To order, click on the book title (above).
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