How much money will you get with the Inflation Reduction Act?
With the new program – Residential Clean Energy Credit (25D) – A rooftop solar project costs about $19,000 depending on the size of your home, thus the average tax credit will be $5,700. You will get your savings via a 30% tax credit. Project costs take take into account price per watt in your state and assume a 6kW size project. For example, these tax credits will cut the cost of installing rooftop solar for a home. It also can unlock an additional average savings of $9,000 on their electricity bills over the life of the system.
You can access all information directly from the government website:
President Biden’s Agenda for Building a Better America Will Lower Energy Costs for Working Families | Department of Energy
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