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"The public is clamoring for information it can trust. " Image Credit... Tyler Varsell; Shutterstock Installing solar panels is expensive, but if you have the money, now might be the time to act. That's because the investment tax credit, which offers significant deductions for installing a solar energy system, is set to expire soon. If your system is hooked up and running before the end of the year, you'll be able to deduct 30 percent of the installation costs from your tax bill. In 2020, the tax credit will fall to 26 percent. In 2021, it drops to 22 percent, and, in 2022, it will be phased out for residential customers. Congress could decide to renew the program, of course. Abigail Ross Hopper, chief executive of the Solar Energy Industries Association, a trade group, said she was "cautiously optimistic" that the tax credit would be extended. Still, she said, the remainder of this year is when you can be sure to earn the largest possible deduction. Because it can take several weeks to shop around and schedule an installation, and several more for your utility company to connect you to the grid, you should get started soon.