Solar 30% Tax Credit is potentially Going away
Solar 30% Tax Credit is going away by October 1, 2025!!!!!
The legislature is closing the window for Solar Tax Credits in the next few months! This is for Residential, Commercial, Nonprofits, Government and Agriculture. The current bill as written is ready for the Senate to evaluate and modified after the Memorial Day week. After they make changes to the bill, it goes back to the House for final eval and passage into law. That should all be over by early August at latest.
The proposed bill currently reads like this albeit not the exact words:
All solar projects must be started and 5 percent completed within 2 MONTHS after the Bills Enactment in to Law to qualify for the existing tax credits. Then, the project must be completed by the end of 2028 (2 ½ years from now)
I would like to let everyone know that this is happening so we can easily meet those requirements. This, of course, means that if you want to get the 30% or 40% tax credit/rebate, the RMP Blue Sky Grant and the RMP battery tax credits you must move forward on this, poste haste.
Now the bill could change during these last 2 reviews, but it certainly will not get any worse. If it gets better, then we could modify all the timelines.
If an entity is interested in pursuing this, I could start the project and get 5% of it completed between now and the 2 month deadline. I look at that deadline being around October, latest. Because there may be a big demand for this during that window, we cannot take on very many projects so there will be a queue. We try to be as flexible as we possibly can as we think like a customer.
The upfront work we do in our first meeting is a major part of that 5% providing we can reach an agreement on paper. We both will know the scope of the project. Any financial requirements and information known at that time will be discussed and agreed upon. We believe in full transparency.
After that 5% is completed, we can discuss next steps, or we can hold off on doing the remainder of the project for a while and continue at a later time.
The proposed bill currently reads like this albeit not the exact words:
All solar projects must be started and 5 percent completed within 2 MONTHS after the Bills Enactment in to Law to qualify for the existing tax credits. Then, the project must be completed by the end of 2028 (2 ½ years from now)
I would like to let everyone know that this is happening so we can easily meet those requirements. This, of course, means that if you want to get the 30% or 40% tax credit/rebate, the RMP Blue Sky Grant and the RMP battery tax credits you must move forward on this, poste haste.
Now the bill could change during these last 2 reviews, but it certainly will not get any worse. If it gets better, then we could modify all the timelines.
If an entity is interested in pursuing this, I could start the project and get 5% of it completed between now and the 2 month deadline. I look at that deadline being around October, latest. Because there may be a big demand for this during that window, we cannot take on very many projects so there will be a queue. We try to be as flexible as we possibly can as we think like a customer.
The upfront work we do in our first meeting is a major part of that 5% providing we can reach an agreement on paper. We both will know the scope of the project. Any financial requirements and information known at that time will be discussed and agreed upon. We believe in full transparency.
After that 5% is completed, we can discuss next steps, or we can hold off on doing the remainder of the project for a while and continue at a later time.
This Hot Deal is promoted by South Valley Chamber.
