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Advancing Utah's Energy Future

Expiring incentives, price drops expected to boost solar installation

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EMMA PENROD | The Salt Lake Tribune

Utahns with visions of solar-powered homes dancing in their heads might want to make sure they put the rooftop panels on wishlists they send to Santa Claus this year.

Next year will be consumers’ last chance to take advantage of a sizable federal rebate for new solar installations, and cash incentives available through Rocky Mountain Power could be coming to an end as well.

The state’s solar tax incentives aren’t going anywhere, but the sunset of the other incentives, as well as the declining price of solar power, has industry experts anticipating an uptick of solar installations in the coming year.

“There’s always a chance the tax credit could be extended last minute,” said Jeffery Barrett, deputy director of the Governor’s Office of Energy Development. “But right now I’d put my money on it going away, and that this year is a good year to invest.”

With the federal solar-tax credit set to expire on Dec. 31, 2016, residents who install a solar array at their homes can add to their tax return a credit of up to 30 percent of the cost of that installation. A similar credit for businesses will cut the tax credit from 30 percent to 10 percent for commercial projects completed after Dec. 31, 2016. (…)

For more, visit the Salt Lake Tribune.