01/12/2021
TAX CREDIT LIKELY TO BE EXTENDED
Solar panels have an average life span of 25 years and a wave of older panels are expected to be retired in the next 5-6 years making viable waste management options critical. According to a University of California, Santa Barbara (UCSB) study, it is estimated that PV solar waste in the U.S. may rise from 1.3 million metric tons in 2040 to 5.5 million metric tons in 2050. Globally in 2050 the estimate is 80 million metric tons generated.
Solar power is also expected to pay a big role in President-elect Joe Biden’s efforts to require the U.S. power sector to be carbon-free by 2035 and the country to have net-zero carbon emissions by 2050. In addition, the new Administration and Congress will likely consider an extension of an existing federal residential solar tax credit that is due to expire at the end of 2021. The credit refunds taxpayers 26% of the cost of solar panels for the 2020 tax year and 22% for 2021.
The new CA regulation that will become effective January 1, 2021
State of California
