NEWS: Utah solar industry gives up fight over tax credit for rooftop installs

Salt Lake Tribune
By: Emma Penrod
Published:  February 2, 2017

 

State lawmakers and officials from Utah’s solar industry have reached an agreement for phasing out tax credits for residents installing rooftop arrays, partly by increasing those incentives while they are still available.

Many said they have mixed feelings about the compromise to eliminate the tax breaks by 2021, which emerged this week on Capitol Hill and is now headed to a House floor debate.

In light of runaway growth in solar installations in 2016 that threatens to drain up to $60 million from state coffers this year, lawmakers recommended winding down the tax incentives for rooftop solar panels over four years.

Currently, Utahns can seeks tax credits of up to $2,000 for installing a residential solar system. The compromise, contained in HB23, would limit that to $1,600 beginning in 2018, then ratchet down the amount yearly by $400 until it reaches zero by Dec. 31, 2021.

To read the full article, click here