$2500 tax credit for solar

[smom1976]

Ok so we all get the oportunity to purchase $ 2500 worth of solar and get a tax credit during tax time..

so with that said..

does anyone know of a system that can be purchased in "chunks" on a per year basis..

that way you would only have to come up with the inital $2500 then each tax year you would get it back and then at the end of instal you would get your inital $ back..

we are going to try this this year..

I could use any help in this area please

 

[miss_thenorth]

Can you not just buy panels in sections? That yo could ad to later? don't really know--just kinda thinkin' at loud.

 

[xpc]

Unlike last year the new tax credit is now 30% of adjusted rebated total with no cap and a 1 year carry forward for PV systems. 30% on hot water with a $2000 cap,

Unfortunately there is still a strict product cert, warranty, and installation guidelines that will forever keep it out of my reach.

I have been an automation electrician for 30 years but would not be allowed to install my own system and get the credit and rebates. The installation costs negate any credits and rebates.

Just priced out a system that had good rebates which only a few states have.
A $40,000 system making 12kWh daily with a state rebate of $7500 and PoCo rebate of $3000 would get a fed credit of about $6000 and when all the math is done only 26 years to pay it off if paid in cash.

The interest on $20,000 at 5% will forever pay my bill and I still get to keep the 20 grand.

 

[On Our own]

s that enough for your house's energy needs? I don't know how to figure these things/

 

[xpc]

s that enough for your house's energy needs? I don't know how to figure these things/

Yes I only use 9kWh a day or about a third of the national average, at 10 cent per kilowatt that is 90 cents a day or about $40 a month with taxes.

Photovoltaic is beyond the reach of most people except when going completely off grid with extreme meager requirements.