Featured Munro and new Model Y

So you paid $66k in today's money to save $1.2K in electricity a year? $66k at 4% in a money market would yield $2,640 a year, enough to pay for all your electric bills. And increased your house value by $51k So your breakeven point is in about 10 years (51k + (10 * 1.2k)). Assuming that a 10 year old solar system actually increases the value on sale by that much. Is that right?

And there is a tax credit of 30% spread out over 12 years? Surely it can't be $20k per year for 12 years? Where is this credit coming from? And what assurances do you have that the tax laws won't change?

When I went to explore solar a year ago, my house is sited all wrong. And the only placement that made functional sense would have been ugly and unsymmetrical. Would have been nice to have to offset the electric bill on my 5 bedroom house. But I expect to be moving in 2 years so no point in doing it now.

 

I don't get how your solar panel rebate is a multi-year tax rebate.
When I got my solar panels I was able to deduct the full amount (30%) for the tax year I got the panels.
This was in 2015, so have the rules changed since then?

Mike

 

It's a tax credit, and the amount of those applied can't exceed your tax liability; you can't profit from them past zeroing out what you owe.

Unlike the EV tax credit, this is one of those credits you can roll over to the next year in the even the credit was more than the tax liability.

 

But your sum total of a credit is the same, just 30% of the solar panel cost whether you take it in one year of over several years

Mike