Solar Is More Popular Than Ever, So Why Is The ITC On It's Way Out?

Solar Is More Popular Than Ever, So Why Is The ITC On It's Way Out?

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Starting January 1st this year, the solar ITC officially began the first step of its phase-out.

The tax credit dropped from 30% of the value of a solar system to only 26%. That amount will drop again to 22% at the beginning of 2021.

Once 2022 hits, the ITC will be gone for good (with the exception of commercial installations, which will still get 10%).

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Historically, solar tax credits have always been offered on a temporary basis, but they’ve regularly been extended due to high demand. So why did the government finally stop renewing?

Much of it can be linked to the fact that the Trump administration stepped back from the Paris Agreement and disposed of Obama’s Clean Power Plan. The current government isn’t prioritizing renewable energy, even though citizen support for it is present on both sides of the political aisle.

Is There Hope for the ITC? In anticipation of the ITC’s phase-out, solar industry representatives lobbied to keep the solar tax credit going. Not only has the ITC been a major boon to the solar industry, it has also massively spurred the spread of solar across the nation and helped states advance toward higher renewable energy targets.

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This sparked the introduction of the Renewable Energy Extension Act to Congress, in the summer of 2019. The bill is currently awaiting further review. Should the law be passed, it would restore the ITC to 30% for another 5 years. But with the pace at which Washington moves, it could be years before the full ITC is back.

A Diminishing Customers

ITC

=

Fewer

Solar

Without the ITC to mitigate costs, many homeowners aren’t able to afford going solar.

Even the ITC dropping by just 4% this year can be enough to make some homeowners pass on installing.

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This isn’t good news for solar contractors, especially when so many have difficulty finding enough customers on a steady basis. Those who are struggling to get leads in this changing market may find that the best way to maintain profits is to team up with solar lead generation companies.

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Agencies like Grid Freedom deal in curating the most lucrative solar leads possible, handling the entire lead attraction and screening process for contractors. Our system entails personal interviews to sort out the most promising qualified candidates. This gives contractors far more bang-for-buck than they’d get by investing in traditional lead generation methods.

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Grid Freedom leads are always isolated from competition and already primed for sale - our team sets them up with consultation appointments ready for contractor sales reps to attend. If you’re looking for a way to maximize your customer success amid the growing challenge of today’s market, we invite you to sign up for a free membership and see what’s on offer.

Join for Free: Get More Customers at Gridfreedom.com WWW.GRIDFREEDOM.COM

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