US homeowners can save $50,000 by going solar — but the tax incentives may be eliminated soon
The solar industry is still going strong as of the beginning of 2025, according to the Solar Energy Industries Association's quarterly report. Although the first quarter of the year has demonstrated a decline compared to recent periods in 2024, it's still the fourth-largest quarter on record, a fact that bodes well for financial savings, grid resiliency, and the environment.
After all, installing solar panels is one of the best ways to slash your monthly power bill. Online solar marketplace EnergySage estimated that homeowners could save $50,000 over the lifetime of their solar panels, depending on their monthly power bill, the solar panels they install, and how long they keep the setup running.
If you can't install solar panels of your own, leasing them or buying community solar is another way to get a discount on your energy bill while helping the planet by supporting clean energy.
The SEIA reported that the U.S. solar industry installed 10.8 gigawatts direct current of capacity, which was almost 70% of the capacity added to the grid during that time.
That included both utility-scale projects — which were especially prominent in Texas — and residential installations, which were highest in California.
Homeowners who want to join in on this trend and enjoy energy savings of their own can use EnergySage's free online tools to find better installers in their areas. Look up providers, get reliable estimates, and quickly compare quotes to ensure you get the best deal available.
Watch now: Does clean energy really cause blackouts?
They even have a convenient mapping tool to help you determine the cost of installation in your state and determine what incentives you qualify for, allowing you to save up to $10,000 on average.
However, you should act quickly. The SEIA noted that the addition of tariffs and the end of Inflation Reduction Act rebates for solar will change the solar installation landscape in the next few years. Homeowners need to install their solar panels by the end of December 2025 to get the best financial incentives, as the National Association of Home Builders reported.
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US homeowners can save $50,000 by going solar — but the tax incentives may be eliminated soon first appeared on The Cool Down.
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