Get up to 30% back when you install solar panels

Though the price of rooftop solar has dropped more than 70% in the last decade, it still costs about $20,000 on average to install. Fortunately, the IRA is here to help.

The IRA will help more Americans harness the sun’s energy to power their homes with clean electricity saving around 886 kWh per month!

The new tax credit will help make solar more affordable for more people and shorten the time it takes for you to see a return on you investment. Beyond that, the average family will save $300 per year, or $9,000 over the life of the system.

What’s the gist?

• How to save - A tax credit covers up to 30% of qualifying purchases, with no cap on the total purchase price. The credit can also cover the cost of labor, permits and inspection.

• Who qualifies? - Everyone, but your savings will also depend on your tax bill. The credits can lower the amount you owe in federal taxes, but they won’t get you a refund if you don’t owe anything.

• When is it available? - Now through the end of 2034 (also, applies to projects completed in 2022). There are no income or location restrictions to apply for this tax credit!