As President-elect Donald Trump prepares to take office, uncertainty over the future of solar energy incentives has many homeowners racing to install solar panels before his administration potentially cuts or eliminates key tax credits. The 30% federal tax credit, which has played a significant role in making solar energy affordable, has prompted a rush among customers hoping to take advantage of the savings before January 20, 2025.
The solar power industry has experienced rapid growth in recent years, making up more than half of all new electricity generated in the U.S. last year. However, with Trump’s past comments suggesting cuts to renewable energy incentives and possible tariffs on imported solar panels, many consumers are worried about the future. Some, like Jorge Solares from Boston, have pushed ahead with their solar installations, hoping to secure the 30% tax credit before the change in administration. For Solares, the savings were significant, cutting his overall costs by $8,000.
However, others, like Jeff Beardsley in Florida, have chosen not to install solar panels due to the uncertainty surrounding the tax credit’s future. Beardsley, who was considering solar for sustainability reasons, decided against it when he couldn’t get his system installed before the end of 2024, fearing the loss of the tax break.
Solar installers are also feeling the pressure, with some stocking up on panels to avoid potential price increases caused by tariffs Trump has proposed. Doug Edwards, president of Exact Solar in Pennsylvania, has prepared for the possibility of price hikes by securing inventory now. The growing concern among solar companies is that cuts to incentives and rising costs could slow the industry’s expansion and lead to job losses.
As the Trump administration looms, the solar industry and potential customers are left in a state of uncertainty, hoping that the renewable energy sector will remain supported despite the changing political landscape.
