The benefits are robust for individuals, the community, and the planet. The costs of solar have come down significantly over the last decade and panel efficiency is better than ever. With the passage of the Inflation Reduction Act of 2022, federal tax credits for solar were increased to 30%.
Please note, with the passage of H.R. 1, called the One Big Beautiful Bill Act (OBBBA), in July 2025, the renewable energy tax credits (25D) from the Inflation Reduction Act (IRA) for solar and battery storage are being eliminated. The tax credits for these items will be terminated for property placed in service after Dec. 31, 2025.*
*The information provided here is for educational purposes only and should not be taken as tax advice. Consult with a tax advisor for more information and before making any financial decisions.