Solar Panels – End of Tax Credit
Regarding solar panels and tax credits in 2024, there have been some changes in U.S. policy that affect tax incentives based on where solar panels are manufactured.
Starting in 2024, to be eligible for the full 30% Investment Tax Credit (ITC) for solar installations, a certain percentage of the components must be manufactured or assembled in the United States or in countries with which the U.S. has a free trade agreement.
Tax credits for Solar panels made entirely abroad in countries without free trade agreements with the U.S are now ending. The exact reduction in the tax credit depends on the specific components and their origin.
Overall, industry analysts agree that the new federal and state policies supporting solar will lead to a boom in U.S. solar deployment over the next decade. However, in the meantime, the market is being flooded with cheaper Chinese solar panels, which are currently pushing demand for Warehouses and Distribution across the nation. This will carry over into 2025.
AW2 Logistics is a nationwide logistics service headquartered in the Midwest. For many years, we have successfully warehoused, packaged, and distributed Solar Panels throughout the United States. AW2 Logistics provides the expertise and capacity you need to handle supply chain challenges and improve service to your client with our state-of-the-art facility, final mile, and white glove programs.
For more information, please contact, Dean Steiner, VP of Sales & Strategy, to discuss your needs in more detail, d.steiner@aw2logistics.com, 1-877-223-0605 or complete the contact form below.