Did you think about going solar in 2017 but didn't? While the number of solar energy installations is at an all-time high, with more than 1.5 million residential solar systems in the U.S., many homeowners are unsure about when to purchase a solar system.
If you’ve been waiting for installed solar prices to come down, there’s good news. GTM Research reports that installed residential solar prices have dropped to an all-time low. However, because of a potential solar panel trade dispute, solar panel prices may not drop any further for a while. So, if you don't go solar in 2018, you likely will be losing more than you’d gain by waiting. Here are four reasons why you should go solar in 2018:
The 30% Federal Solar Tax Credit for 2018
Congress recently passed tax reform legislation that will reconfigure how Americans calculate their mortgage interest tax deductions in 2018. The good news for homeowners going solar is that the 30 percent solar investment tax credit (ITC) is still in place for 2018.
However, the credit will drop to 26 percent after 2019 and down to 10 percent in 2021. For homeowners who may no longer be able to write off as much of their mortgage interest as they have in past year