Solar Prices will be rising 30% with no tax credit | Pound Ridge Real Estate
Since the introduction of a solar investment tax credit (ITC) in 2006 the number of solar installations has grown by over 1,600%. Going beyond encouraging the adoption of residential and commercial solar, the ITC has stimulated significant job growth in the industry, with jobs rates at 20 times the national average. Over the course of its tenure the ITC guided the cost of installed solar from $7.60/W in 2006 to $2.93/W in 2013. Despite its apparent success, on January 1, 2017 the ITC is scheduled to step down from its current 30% to 10% for commercial customers and expire entirely for residential customers. What does this mean for the industry here in the US? Depending on who you ask answers vary from panic to hard-nosed optimism. These unknowns have prompted think-tanks and universities alike to publish calculated suggestions for legislators to take into consideration. One such paper out of Stanford calls for a front-loaded phased reduct...