Which of the following is true of the federal solar panel tax credits?

A. A homeowner will receive a 60% tax credit if they install solar panels in 2024.
B. Tax credits for solar panels are 30% between 2022 and 2032.
C. Significant budget cuts have reduced solar panel tax credits to 10%.
D. The federal tax credit credits a homeowner with up to $300 on each solar cell they purchase.

The correct answer is: b. tax credits for solar panels are 30% between 2022 and 2032. The federal solar panel tax credits offer a 30% credit on installations from 2022 through 2032. This program has played a crucial role in advancing sustainable energy in the U.S.

Federal solar panel tax credits, specifically known as the Solar Investment Tax Credit (ITC), offer a 30% tax credit on new solar installations from 2022 through 2032. This program initially started in 2006, was renewed in 2015, and has been extended further by the Inflation Reduction Act. These credits have substantially contributed to the growth of the U.S. sustainable energy sector by making solar and wind energy investments more financially viable.