Immensely popular solar energy credits created under the federal stimulus program as an option for homeowners seeking to lower their electricity costs are set to expire prematurely, with little hope of renewal given the current anti-spending climate of Congress, CNN reports.
A 30% federal cash rebate offered to homeowners who chose to install solar panels on their homes is set to expire at the end of this year, while a 30% tax credit program will end in 2016. The energy credits offer homeowners tens of thousands of dollars in savings. Twenty-nine states also followed suit and offered incentive programs of their own—yet due to federal budget cuts many are being forced to end those programs as well.
Under the credits, sales for solar panel rooftop installations jumped 67% between 2009 and 2010.