If you've been thinking about going solar for your home, there's no better time than the present, according to one expert.
"It makes a lot of sense financially because costs have gone down so much and the incentives are really strong," Gilbert Michaud, a professor of environmental policy at Loyola University Chicago, told CNET.
The publication notes that tax credits and incentives vary by state, but the 30% solar tax credit — available thanks to the federal Inflation Reduction Act — is open to anyone.
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The cost of installation 💵 It's important to note that federal tax incentives for such projects might not be around forever, as President-elect Donald Trump has said he wants to eliminate these types of subsidies. Any major changes to the IRA would ultimately require an act of Congress, however.
Besides saving you money on utility bills — Forbes estimates that installing rooftop solar panels can save you between $25,500 and $33,000 over the lifetime of your panels — going solar can also increase your home value. In fact, according to a Zillow data study, homes with solar sell for 6.8% more.
These savings may be one of the reasons that residential solar installations surged in 2024.
Plus, going solar is one of the best things you can do to reduce health-harming and planet-warming pollution. The burning of traditional energy sources like coal, oil, and natural gas degrades air quality and can lead to health issues like asthma, cancer, heart disease, and premature death, according to the Environmental and Energy Study Institute.
These same pollutants also are responsible for more than 75% of all planet-heating pollution, per the United Nations. As our climate warms, we can expect to see an array of devastating impacts, including worsening droughts that threaten our food supplies and more frequent and intense storms capable of destroying property.
If you're ready to save money and give an assist to the planet by switching to solar, EnergySage offers free tools to help you get quick solar installation estimates and compare quotes.
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