2020 has been an interesting year to say the least. With many changes to everyone's day to day life it can be hard to see any good that has come out of it. With everything going on, the solar industry has managed to achieve unbelievable growth all while providing thousands of people with new jobs that found themselves furloughed or unemployed because of this pandemic. Solar hasn't just provided jobs though, it has allowed hundreds of thousands of homeowners to control the electricity costs and stop throwing away money to utilities that only care about one thing, profit.

Although many people were coming into the industry and many homeowners were taking advantage of this amazing technology that saves them tens of thousands of dollars, a big change had been in the works for a couple years. The federal tax credit, that was originally 30% had dropped down to 26% for 2020 and was expected to drop to 22% in 2021, and then finally disappear entirely in 2022. That would have essentially meant an increase in cost of 30% over the course of 3 years.

Luckily the government and the country as a whole has seen the benefit of solar and what it brings to us as far as sustainability and economic growth. The federal tax credit has now been extended to 26% until 2022 which hopefully by that point solar is such a staple within the economy that the tax credit will be here to stay. This will again be evaluated in 2022 so while many things are not certain in these times, know that solar is here to stay and the tax credit is a huge incentive for the tens of thousands of homeowners that go solar every years!

Author: Gianpier Yanez