Name: Deadline approaching for clean energy tax credits
Uploaded: 2025-12-01T03:46:47.499Z
Duration: 2 min 25 s
Description: Time is running out for Americans looking to cash in on clean energy tax credits. The incentives, like those for solar panels, are going away by the end of the year. Nikole Killion reports.

Time is running out for Americans looking to cash in on clean energy tax credits. The incentives, like those for solar panels, are going away by the end of the year. Nikole Killion reports.

Washington

Federal clean energy tax credits, such as those for solar panel installations and electric vehicles, are set to expire at the end of the year. The expiration follows the passage of a bill signed by President Trump in July, which eliminated several Biden-era clean energy subsidies.

The impending deadline has led to a surge in demand for solar panel installations and concerns among industry professionals about a potential slowdown once the incentives end. Experts note that the removal of these incentives could make clean energy technologies less accessible for many consumers, potentially impacting the growth of the sustainability sector.

Deadline approaching for clean energy tax credits

Tonight, time is running out for Americans looking to cash in on clean energy tax credits. The incentives, like those for solar panels, are going away by the end of the year. And as CBS's Nicole Killian reports, some homeowners are racing to complete upgrades. Nailing down an appointment to install solar panels on his home was a top priority for Jeff Weinshank once he learned a federal rebate would expire at the end of this year. With the federal tax credit, we're expecting to save about $140 a month. The residential tax credit knocks 30% off the cost of solar panel installation. But come December 31st, it's gone, along with other Biden-era clean energy subsidies that were eliminated by President Trump in the big, beautiful bill signed into law in July. Mike Kirby runs a solar panel company outside of Baltimore and has been getting lots of calls to beat the deadline. Your phones have been ringing off the hook. It's been crazy, like I said. It's been unlike anything I've seen in the last 16 years. And this is all because of the expiring tax credit. Demand this year was really, this year was shaping up to be our best year before that. Just kind of put it into overdrive. But he hopes business doesn't stall when the credits go away. Gone through three or four different cycles similar to this. You know, there's always something that's expiring or there's always something that's going away. And it always leads to one or two quarters of challenges. And the market always resumes and carries significant growth. Without the incentive, I think it's going to have a dramatic impact on the consumer's choice. Rob Smith oversees several car dealerships taking stock of his inventory. Several major automakers have reported EV sales declined since a $7,500 tax break for buyers expired this fall. And now it's just a matter of, well, OK, what's the best car for me right now? Because now that car doesn't have an advantage that this other car had. And for Jeff Weinschenk, what's best for his home and his bottom line? It's unfortunate because we're starting to see more and more people adopt this new technology, whether it's an electric vehicle or adding solar to their homes. And with the incentives in place, right, it makes it more affordable. You take those incentives out of the equation, it just becomes probably cost prohibitive for a lot of people. New concerns for an industry built on sustainability. Nicole Killian, CBS News, Washington.

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