For the commercial projects, if the construction has been approved before December 31, 2021, there is a chance to qualify for 22%, 26%, or even 30% of ITC. The US solar industry has grown abundantly, since federal solar tax credit was introduced it has created several job opportunities and billions of dollars are invested into our economy.
If we go back a decade ago, a standard 6-kW hour solar system could be as expensive as $50,000. Today, the prices have drastically dropped an average of 62% annual decrease making home installation range from $16,200 to $21,400.
The electrical companies have now adapted to the new technology of allowing a back flow of power into the main grid. In return, this allows a homeowner with a solar system to potentially collect a check from their local power company every month.