URGENT: Speak up to defend the 30% ITC
Breaking news came out last week that the House Ways and Means Committee has proposed eliminating the 25D residential clean energy credit (the 30% ITC for cash and loan projects) effective at the end of 2025.
While not yet law, this significantly increases the risk of the tax credit going away at the end of this year.
What's Next for the Bill
We anticipate that the House will pass the bill before the end of May. The bill will then move to the Senate who will mark up the bill before passing it and sending it back to the House. Once the two chambers agree on a final version, the bill will go to the President for his signature. We believe the final bill will be passed in early August.
What REC is Doing to Help Preserve the 25D Tax Credit
The REC team is active behind the scenes aligning with other industry stakeholders and Government Affairs teams to help draw attention to the economic harm and job losses that would result from a premature elimination of the 25D tax credit. We recently joined the Residential Solar Association and are aligning with other National industry trade groups who are working to protect 25D.
What You Can Do
Here are a few simple steps you should take today:
- Reach out to your elected officials and let them know how important the 25D tax credit is for you and your community. Focus on jobs, economic impact, and cheaper electricity. While direct outreach to their offices is preferred, you can also use this form.
- Get counted. Ensure your company is included in unified voice advocacy on behalf of the industry. Fill out this form to be included.
- Get involved. Join your local trade association. Consider joining the Residential Solar Association and help their efforts in highlighting this critical issue.
- Tell your story. Share your Residential Solar stories with SEIA to help them showcase the value of residential solar and the many tangible and intangible benefits the 25D tax credit brings to solar businesses and our communities. Share your story here.
- Encourage interested homeowners to consider going solar as quickly as possible to ensure they lock in their 30% Solar Investment Tax Credit (but remember the system needs to be placed in service by the end of the year under current rules).