Tax Reform – What Does It Mean For Solar?
Join us on this week’s Energy Show as we discuss the potential changes that tax reform will have on the solar industry.
This week’s show is about TAXES. Please try to contain your excitement.
It’s been 32 years since President Reagan pushed through the last comprehensive tax reform bill. The Tax Cuts and Jobs Act of 2017 makes similar huge changes in the ways that individuals and businesses pay their taxes. Every sector of the economy will be affected, as will everyone’s personal returns.
The new tax bill become effective on January 1st, 2018. The tax bill is about 600 pages long, and a lot of the details are still being worked out. Many of these tax reform details were implemented very quickly at the end of 2017 in order to pass the bill. Even tax experts do not fully understand the impact of the tax bill on most business and personal activities.
The entire solar industry will be similarly affected, ranging from the impact on solar financing, household disposable income, interest deductibility, business depreciation — even utility rates (which could conceivably go down if utilities pass their tax savings on to ratepayers).