Solar Investment Tax Credit – What Changed in 2022?

Solar Investment Tax Credit
Solar Investment Tax Credit

Solar energy use is rising across the U.S., becoming a popular way to reduce your carbon footprint, utilize renewable energy, and save on bills; you can even get a credit to claim on your taxes for installing a solar system in your home. 

Keep reading to learn more about the solar investment tax credit incentive, how it changed throughout 2022, and how these tax credits can help increase solar use and installation across the U.S.

What is the Solar Investment Tax Credit Incentive?

The federal government initially implemented the solar investment tax credit incentive in 2006. The incentive encourages homeowners and entities to install solar photovoltaic (PV) systems and use solar power for home and commercial energy needs.

The solar tax credit allows people to claim part of the installation cost on their taxes at the end of the calendar year. This investment tax credit has helped grow the solar industry over 200 times what it was before the tax credit was introduced.

How Has the Incentive Changed in 2022?

A few developments have been made to the tax credit throughout 2022. In August 2022, a law was passed raising the tax credit to a 30% credit for systems installed between 2022-2032

In previous years, people would be eligible for a 26% tax credit. This increase helps further boost solar use in the U.S. by giving people a higher credit when they have a solar PV system installed.

The investment tax credit has also been expanded to include energy storage devices with 3-kilowatt hours capacity or more. These solar battery backup systems can easily be paired with solar energy collection systems and are eligible for tax credit incentives.

President Biden also signed the Inflation Reduction Act into law in 2022. This law allows direct payment options rather than tax credits for non-taxable entities that install solar PV systems; this expands the range of people and groups eligible for incentives related to solar installation and other clean energy efforts. 

How Do Tax Credits Help Increase Solar Use?

Tax credits are a great way to encourage people to implement solar energy in their lives. Using solar energy helps the environment by emitting fewer toxic chemicals into the atmosphere. 

Solar panels have about 20 times less carbon footprint than traditional coal energy sources. However, for some people, solar energy can be expensive. A 30% tax credit helps make solar energy more affordable and attainable for more households.

Solar Investment Tax Credit – Start Using Solar Power Today

Solar power is a great investment for many reasons. It is more environmentally sustainable and helps create a healthier planet for everyone. Plus, you can now get a 30% tax credit when installing a solar system at your home or business!

We can help you start using solar energy today. Our Houston solar installers offer professional installation. We’re proud to be one of the best solar companies in Texas

Contact us to get started today!

Texas Plastic

Sunshine Renewable Solutions to Help Formosa Plastics of Point Comfort, Texas, Achieve Sustainability Goals

Formosa Plastics is a major producer of polyethylene, polypropylene, and polyvinyl chloride resins, which are widely used in various industries worldwide. Recognizing its role in environmental stewardship, Formosa Plastics sought to collaborate with a reputable sustainability consultant who can provide solutions to reduce its impact on the environment.

Sunshine Renewable Solutions is a leading sustainability consulting firm that specializes in renewable energy and environmental sustainability. The company has a team of experts who help clients identify opportunities to reduce energy consumption, lower greenhouse gas emissions, and implement sustainable practices through solar power.

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Sunshine Renewable Solutions proudly partners with a leading Texas-based plastic manufacturer, embarking on a groundbreaking initiative to fortify its commitment to sustainability.

By integrating solar energy solutions, we're revolutionizing their environmental impact. Our collaborative efforts aim to construct a robust solar infrastructure, harnessing renewable energy to power their operations efficiently.

Together, we're spearheading a transformative shift towards renewable practices, demonstrating how solar power can drive industrial progress while prioritizing environmental responsibility. Sunshine Renewable Solutions is honored to work hand-in-hand with this industry leader, fostering a brighter, greener future through the strategic implementation of solar energy solutions.

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Creating The Foundation

As the foundational step in our partnership, the construction of concrete piers for the solar panel structure marks a pivotal milestone in our solar energy initiative. These concrete piers serve as the bedrock of support for the entire solar infrastructure, providing stability and durability essential for the efficient functioning of the solar array.

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Precision And Accuracy Are Paramount

Our engineering team meticulously plans and designs the layout of the piers, ensuring they are strategically positioned to uphold the solar panel array's weight and withstand environmental factors such as wind and inclement weather. We adhere to industry standards and best practices to create a robust foundation that guarantees the longevity and resilience of the solar installation.

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A Solid Foundation

Environmental considerations are taken into account throughout the construction process, ensuring minimal disruption to the surrounding ecosystem. Our commitment to sustainability extends beyond energy production to encompass responsible construction practices.

By establishing these concrete piers foundations, we are ready to start Phase 2, erecting the metal support bars. Enabling the subsequent installation of solar panels will power the plastic manufacturer's operations while significantly reducing their carbon footprint.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry.

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry.

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry.

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry.

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.

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