In the U.S., a federal tax credit designed to lower the cost of installing solar panels is set to expire at the end of the year. The move is part of the Trump Administration’s broader effort to scale back renewable energy incentives.

Philadelphia

The U.S. solar industry is witnessing a significant increase in demand as homeowners hurry to install solar panels before the federal tax credit for residential installations expires. The credit, which covers 30% of installation costs, has prompted many to act quickly, especially as energy prices rise. Commercial solar projects will continue to receive tax incentives until a later date.

Industry representatives express concern over the combined impact of the tax credit's end and recent tariffs on materials like aluminum, which have increased costs. There are fears that solar installations may become unaffordable for many, potentially resulting in job losses, particularly among workers trained through community programs. The Solar Energy Industries Association warns that hundreds of thousands of jobs and access to affordable clean energy are at risk.

U.S. solar industry booms despite looming tax credit cut

This solar installation crew is in high demand. The reason? Homeowners are racing to meet a December 31st deadline. That's when a federal tax credit designed to offset the upfront costs of converting to clean energy will end. Right now is great. So everybody heard the tax credit's about to end. Everybody's like, yo, I need to just, I need to get this tax credit in before the end of the year. The cost of installing the panels on a home ranges from 10 to $50,000 here in Pennsylvania, but the tax credit covers 30% of the cost. And with monthly energy prices rising, homeowner Joe Markowitz sees it as a worthwhile investment. Said it'll pay for itself in about five years and then it's free after that, so. And if we overproduce, the electric company has to buy the energy from us at the same rate that we buy it from them. President Donald Trump signed the big beautiful bill into law on July 4th, eliminating the federal solar tax credit nearly a decade ahead of schedule. Now homeowners have just a few months to finish their solar panel installations and claim the credit. For commercial solar projects, the tax incentives will expire in 2027, but it's not just the loss of the tax credit that's causing anxiety in the industry. These are aluminum rails that we mount solar panels to. There's also tariffs. The cost of the aluminum has been tariffed 50%. So the prices for these materials and for anything made out of aluminum has gone up astronomically in the last week or so. The founder of Solar State's installation company worries the cost of converting to solar will soon become out of reach for many and he'll be forced to lay off workers, many of whom he trained as part of a program for at-risk youth. But the end result of all of this is people are losing out on work, on family-sustaining jobs. That's what it comes back to. And this whole idea that somehow we're funding China or some other country is totally false. The majority of equipment that we have in our warehouse is from the United States. Katrell Holmes is one of his 60 employees. Once the end of the year is over, we don't know what's gonna happen. The Solar Energy Industries Association says hundreds of thousands of jobs nationwide are at risk, as well as the ability to access clean, affordable energy in communities that could benefit from it the most. Kristen Salumi, Al Jazeera, Philadelphia, Pennsylvania.

After almost four decades of a bloody conflict that until recently had no end in sight, Azerbaijan and Armenia signed a peace agreement in the presence of the US President Donald Trump. Notably absent in this historic moment is Russia, which no longer plays a central role in the South Caucasus.

Washington

Azerbaijan and Armenia sign historic agreement

Montana's governor said that the dayslong manhunt for the suspect in a bar shooting has ended. 45-year-old Michael Brown was taken into custody on Friday.

Anaconda

Montana bar shooting suspect captured after weeklong manhunt

President Trump announced Friday that he will hold a one-on-one meeting with Russian President Vladimir Putin on Aug. 15 in Alaska. The summit comes as Russia has been pushing to keep all the Ukrainian territory it gained from its invasion. Nancy Cordes and Margaret Brennan have the latest.

Ukraine Invasion

Trump, Putin to hold meeting in Alaska next week

The U.S. Department of Justice issued subpoenas in its investigation into New York Attorney General Letitia James. CBS News' Jake Rosen reports.

New York

Trump's DOJ subpoenas New York AG Letitia James

Vladimir Putin and Donald Trump will meet in the coming days, the Kremlin said on Thursday (August 7), as the U.S. president seeks a breakthrough to end the Ukraine war after voicing mounting frustration with his Russian counterpart and threatening him with new sanctions.

Moscow

Kremlin says Trump, Putin to meet soon; Ukraine seeks role for Europe

U.S. President Donald Trump's rushed deadline for Russia to strike a ceasefire deal or face more sanctions has arrived without much movement from Russian President Vladimir Putin.

Trump deadline for Russia to reach ceasefire arrives

Protesters in Israel are voicing their concerns about a plan approved by Prime Minister Benjamin Netanyahu's Security Cabinet to take over Gaza City. CBS News' Debora Patta has more.

Jerusalem

Middle East Conflict

Israel's security cabinet approves plan to take over Gaza City

Israeli Prime Minister Benjamin Netanyahu says Israel intends to take full military control of Gaza and push a new offensive, despite mounting international criticism over the war’s human toll and growing hunger crisis.

Israel intends to take full control of Gaza, Netanyahu says

U.S. President Donald Trump said that there is a good chance he'll meet with Russian leader Vladimir Putin soon over Russia's war with Ukraine.

Trump says 'good chance' he'll meet with Putin soon

U.S. President Donal Trump officially began levying higher import taxes on dozens of countries on Thursday (August 7), just as the economic fallout of his months-long tariff threats was beginning to create visible damage to the U.S. economy.

Global Tariffs

Higher U.S. tariffs officially take effect

The man accused of killing two Israeli Embassy staffers in Washington, D.C., earlier this year has been charged with federal hate crime charges. CBS News Justice reporter Jake Rosen has more.

Hate crime charges filed in killings of Israeli Embassy staffers

As Sean "Diddy" Combs awaits his sentencing, his lead attorney Marc Agnifilo says he has not talked to anyone at the White House about a possible pardon.

Sean "Diddy" Combs' attorney says he hasn't had talks about a pardon

Mike Huckabee, the U.S. ambassador to Israel, blamed Hamas when asked about starvation in Gaza, saying, "Hamas has not allowed the food to get to the people who are hungry." Huckabee also addressed questions over the controversial aid sites.

U.S. Ambassador to Israel faces questions over starvation in Gaza

On "T-Day," the US began enforcing Trump's new tariffs, raising average rates from 2% to 15% after a 90-day pause allowed some countries to negotiate reduced deals while others, like India and Brazil, faced hikes. These tariffs have generated over $150 billion in revenue by July, impacting various sectors and aiming to address trade imbalances.

U.S. begins collecting Trump's new global tariffs

Brazil’s President Luiz Inacio Lula da Silva says he plans to call the leaders of China and India, to discuss a joint response to new US tariffs. The announcement came as Brazil and India were hit with 50 percent levies - the highest imposed by President Donald Trump.

State of Rio de Janeiro

Brazil halts U.S. trade talks as Lula condemns new tariffs

U.S. President Donald Trump imposed an additional 25% tariff on Indian goods, citing New Delhi's continued imports of Russian oil in a move that sharply escalated tensions between the two nations after trade talks reached a deadlock.

Trump imposes extra 25% tariff on India over Russian oil imports

President Trump has been briefed about the shooting at Fort Stewart in Georgia, the White House press secretary says. At least five soldiers were shot before a suspect was apprehended, officials say.

Fort Stewart

Five soldiers shot at Fort Stewart in Georgia; suspect apprehended

A Russian official said President Trump's special envoy to the Middle East, Steve Witkoff, had a "useful and constructive" conversation with Russian President Vladimir Putin in Moscow on Wednesday.

Witkoff, Putin had 'useful and constructive conversation'

The U.S. aims to deploy nuclear power reactors on the Moon and Mars, targeting the first launch by decade’s end. A new NASA directive, revealed by Politico and AFP, calls for appointing a nuclear power czar to choose two commercial proposals within six months, aiming to outpace a Chinese-Russian collaboration.

NASA races to put nuclear reactors on Moon and Mars

Japan held a memorial service and ceremony for victims and the remaining survivors of the U.S. atomic bombing of Hiroshima, marking its 80th anniversary and renewing pledges of working towards a world without nuclear weapons.

Hiroshima

Hiroshima marks 80th anniversary since U.S. atomic bombing

The U.S. is warning travelers as cases of chikungunya, a mosquito-borne illness, spreads in China. Health officials in China have ordered mass disinfection measures. The region near Hong Kong reported more than 7,000 cases in recent weeks.

Beijing

U.S. warns travelers as cases of chikungunya increase in China

Japan has commemorated the 80th anniversary of the Hiroshima atomic bombing during World War II. Ceremonies at Peace Memorial Park honoured the victims of the 1945 nuclear attack by US forces.

Japan’s Hiroshima marks 80 years since U.S. atomic bombing

Multiple media outlets in Israel have reported that Israeli Prime Minister Benjamin Netanyahu wants a complete military takeover of Gaza, while almost 600 former Israeli military and security officials are petitioning Washington to stop the fighting.

Netanyahu reportedly wants complete Gaza takeover

Ukrainian President Volodymyr Zelenskyy said Tuesday that he had a productive talk with President Trump focused on ending the war with Russia. CBS News national security contributor Samantha Vinograd has more.

Kyiv

Zelenskyy holds 'productive talks' with Trump about war

Family members of two of the victims from the 2023 implosion are demanding tougher regulations following the damning report released on Tuesday. Five people died when the submersible imploded off the coast of Newfoundland.

Breakdown