Latest news with #AaronNichols
Yahoo
27-05-2025
- Business
- Yahoo
Congress has put valuable solar incentives on the chopping block — here's how to secure $10,000 for new panels before its too late
The Republican-controlled House of Representatives is moving forward with a proposed plan to end the solar panel tax credit much earlier than planned. According to EnergySage, the House Ways and Means Committee is considering significantly accelerating the stoppage of federal tax credits for the installation of solar panels on your home. Currently, the tax credit would be in place until 2035, but the proposed budget would ax the program at the end of 2025. "If Congress eliminates the ITC without a reasonable phase-down, that's obviously going to cause immediate disruption within the solar industry," Aaron Nichols of Exact Solar told EnergySage. Solar panels are a fantastic way to immediately reduce your carbon footprint and save big on your energy bill each month. They reduce your reliance on the local power grid, which can be powered using dirty energy sources like oil and natural gas. And the federal tax credit makes them more affordable and accessible for families and households across the country. If you want to take advantage of these tax credits before they disappear, EnergySage's free tools are available. They can help you get in touch with vetted, reputable installers and get free quotes quickly in your area. With their assistance, you can save up to $13,000 on your panel installation, as they'll maximize the amount of money you can get through the federal tax program. Without the program in place, panel installation is going to be much more expensive and may not happen as quickly, as the loss of business from increased prices could see companies shutter, giving you fewer options to choose from. While the bill's future is in peril, its fate isn't sealed yet. Contact your representatives to tell them to keep fighting to keep the solar tax credit program alive. With so much uncertainty surrounding the program, it's best to take advantage of it now while you know you can still reap the benefits and save thousands of dollars. The free tools from EnergySage are the best way to ensure you're getting the best deal possible, from installers you can trust. What's the biggest factor stopping you from investing in solar panels? The cost The technology I'm a renter I'm already invested Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Yahoo
26-05-2025
- Business
- Yahoo
Lawmakers introduce controversial proposal targeting new energy efforts: 'Obviously going to cause immediate disruption'
A bill recently proposed in the United States House of Representatives threatens to end residential clean energy tax credits as soon as December 31, according to Electrek. If passed, the legislation would cut this 30% tax credit nearly a decade earlier than it was set to expire. Reflective of President Donald Trump's legislative agenda, the so-called One Big Beautiful Bill Act primarily aims to extend tax cuts from the 2017 Tax Cuts and Jobs Act while eliminating existing incentives like the residential clean energy tax credit and the electric vehicle tax credit. The bill as drafted would also cut federal assistance for food stamps and include work requirements for Medicaid. The New York Times reported in mid-May that it would "slash taxes, while providing the biggest savings to the wealthy, and steer more money to the military and immigration enforcement." The clean energy and EV tax incentives currently on the chopping block originated as part of the Inflation Reduction Act — or IRA — and they were intended to support more widespread adoption of cleaner alternatives that also increase the country's energy independence from requiring as much foreign oil. Taking a closer look at the clean energy tax credit — also known as the Investment Tax Credit, or ITC — as one example, Electrek explained that this incentive was aimed at supporting homeowners with essentially a 30% discount on solar installation costs. It was then meant to be phased out over time until finally ending in 2035, rather than being suddenly shuttered, as proposed in the new bill. Aaron Nichols of Exact Solar said, per Electrek, "If Congress eliminates the ITC without a reasonable phase-down, that's obviously going to cause immediate disruption within the solar industry." It also has the potential of cutting off many from a more affordable pathway to cleaner, cheaper energy that is more resilient to intensifying weather events capable of knocking out other power sources. These tax credits have been key in helping homeowners make upgrades that can benefit savings at home, individual resilience to power outages, community preparedness, and the planet as a whole. Continuing to take the example of solar panels, though they can save residents thousands of dollars over their lifespans, the upfront installation costs can be intimidating. The 30% savings through the IRA's tax credit have done a lot to address this challenge, along with companies like EnergySage, which functions like an for solar panels. Should the government continue to give tax incentives for energy-efficient home upgrades? Absolutely No Depends on the upgrade I don't know Click your choice to see results and speak your mind. While many residents have already leveraged the incentive to make the switch since the IRA was enacted in 2022, ostensibly many more — plenty of them only now becoming homeowners and standing to benefit from the credit — might be able to afford a transition to residential solar systems with another decade of the ITC in effect. That additional 10 or so years is also critical because increasing the number of people able to make the switch to solar and other renewables could lower the amount of heat-trapping pollution produced on our planet. This can mitigate Earth's overheating, with the potential to curb destructive weather events, reduce costly infrastructural damage, and improve human health. In mid-May, the Associated Press reported, "Environmental groups warned the proposals would pave the way for more oil and gas industry activity on public lands and increase planet-warming greenhouse gas emissions in the United States." House Republicans advanced the One Big Beautiful Bill out of the Budget Committee on May 18 with a vote of 17-16, with four holdouts, according to PBS. The day after it advanced through the Budget Committee, NPR reported that the nonpartisan Committee for a Responsible Federal Budget has "[estimated] that the House bill is shaping up to add roughly $3.3 trillion to the debt over the next decade." Meanwhile, the bill must still be approved by the full House and Senate to become law. The AP previously reported that House Speaker Mike Johnson "set a Memorial Day deadline to pass President Donald Trump's big bill of tax breaks and spending cuts." This means there's still time to advocate for cost-cutting, pro-environment policies by sharing your opinion with elected representatives, regardless of your preferred political party. Taking local action like this can create ripple effects to highlight the economic and climate benefits of clean energy tax credits and rebates. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
