The outlook for solar power is suddenly a bit cloudy.
The Republican megabill that President Donald Trump signed into law this month eliminates a federal tax credit for residential solar power projects years ahead of schedule, cutting them off at the end of 2025.
In New York, some companies that install solar power systems are seeing a sudden surge in demand as consumers rush to act — but are preparing for it to be short-lived.
“A lot of people are sort of almost panic buying, in a way,” said T.R. Ludwig, the CEO of Brooklyn SolarWorks.
The tax credit enables homeowners that install a solar power system to recoup a percentage of the cost. Legislation signed by then-President Joe Biden — the so-called Inflation Reduction Act — increased the credit to 30% and mandated it be available t