Insider: Elimination of solar tax credits will lead to job losses, price increases

Solar industry entrepreneur Steve Rutherford believes the federal legislation dubbed the Big Beautiful Bill approved by Congress and signed into law July 4 will upend both the industry and his own business — costing jobs and slowing progress.

His biggest concern is the phasing out of a 30% tax credit. That was a major selling point in convincing people to go solar, making the transition more affordable to homeowners and businesses looking to capitalize on opportunities.

Under the new law, the residential tax credit will be phased out at the end of the year. On the commercial side, to qualify for the tax credit the law requires developers begin work on projects that have a solar component within a year of the passage and for those that don't, they must finish the project by the end of 2027.