Solar panels

[skyguy918]

thanks!
What are the similar alternatives? just to be informed.

Sunpower has something similar, but you're mostly going to see that from Sunpower-exclusive installers. Don't know off hand what the other higher end players are - I'm sure there are others.

[yossig]

Sunpower has something similar, but you're mostly going to see that from Sunpower-exclusive installers. Don't know off hand what the other higher end players are - I'm sure there are others.

thanks!

[yossig]

So I finally got a quote for 21 LG370w panels installed on a rooftop canopy (I have a flat useable roof).
Total cost $47,725.00
- rebate $1,554.00
- federal and state taxes credits $26,000.00
Total- approx $19,500.00

I think it’s very expensive, any input @skyguy918 ?

[skyguy918]

So I finally got a quote for 21 LG370w panels installed on a rooftop canopy (I have a flat useable roof).
Total cost $47,725.00
- rebate $1,554.00
- federal and state taxes credits $26,000.00
Total- approx $19,500.00

I think it’s very expensive, any input @skyguy918 ?

Yup, sounds like a lot. I don't think what I have (also flat roof) is called a canopy. They're at a slight angle but not raised much off the roof. It could be the canopy is causing some of the cost increase. I did have one company say they'd only install with a canopy, but all the others were fine doing without it. Maybe get some more quotes.

It's also very possible that prices have just changed drastically.

[yossig]

Yup, sounds like a lot. I don't think what I have (also flat roof) is called a canopy. They're at a slight angle but not raised much off the roof. It could be the canopy is causing some of the cost increase. I did have one company say they'd only install with a canopy, but all the others were fine doing without it. Maybe get some more quotes.

It's also very possible that prices have just changed drastically.

how much did you pay per panel?

[yesitsme]

Yup, sounds like a lot. I don't think what I have (also flat roof) is called a canopy. They're at a slight angle but not raised much off the roof. It could be the canopy is causing some of the cost increase. I did have one company say they'd only install with a canopy, but all the others were fine doing without it. Maybe get some more quotes.

It's also very possible that prices have just changed drastically.

It seems that he wants the canopy since he uses the rooftop

[dovy2]

Anyone here recently went solar?
Does someone who doesn't pay any federal taxes, thius not really gaining from federal tax credits, have other benefits?

[yossisch1]

Where is the best place to sell SREC's

[AsherO]

Anyone here recently went solar?
Does someone who doesn't pay any federal taxes, thius not really gaining from federal tax credits, have other benefits?

Pretty sure there could be other benefits, that include other financial incentives, special financing at low interest rates, energy cost savings over time where the solar panels more than pay for themselves, selling excess power back to the utility (potentially at a higher rate during peak demand), etc. etc.

[skyguy918]

Pretty sure there could be other benefits, that include other financial incentives, special financing at low interest rates, energy cost savings over time where the solar panels more than pay for themselves, selling excess power back to the utility (potentially at a higher rate during peak demand), etc. etc.

I'm not an expert on this, but I would imagine it becomes very hard to make it worthwhile without the tax-based incentives.

[Joel]

Selling excess power back to the utility (potentially at a higher rate during peak demand), etc. etc.

Not worth it since they pay you penny's on the dollar

[avromie7]

Anyone here recently went solar?
Does someone who doesn't pay any federal taxes, thius not really gaining from federal tax credits, have other benefits?

Which state?

Not worth it since they pay you penny's on the dollar

This varies widely from state to state.

[yos9694]

I'm not an expert on this, but I would imagine it becomes very hard to make it worthwhile without the tax-based incentives.

Can you have a family member install the panels and lease them to you with a high upfront payment? E.g. shver plonks down $30,000 to buy and install panels on your house, gets the tax credit. Then turns around and bills you for the net cost so he's not out of pocket (except for carrying cost/time factor). I don't think this is even shady but cmiiw

[skyguy918]

Can you have a family member install the panels and lease them to you with a high upfront payment? E.g. shver plonks down $30,000 to buy and install panels on your house, gets the tax credit. Then turns around and bills you for the net cost so he's not out of pocket (except for carrying cost/time factor). I don't think this is even shady but cmiiw

I'm not an expert on this (not sure if a solar company or an accountant would be more knowledgeable on this) but I believe both the federal and at least NY state credits are only for installations on a home you live in. Maybe you can play games with that and claim they do reside there, but I assume it's far from 'not even shady'.

[SearchGuy]

Anyone here recently went solar?
Does someone who doesn't pay any federal taxes, thius not really gaining from federal tax credits, have other benefits?

This could be rolled over 5 years or more, are you sure you wont be paying taxes for the next 5 years? Also there is usually some taxes that get swallowed with the refunds which means your refund can technically be more if you are getting this tax credit, ask your accountant

[avromie7]

I'm not an expert on this (not sure if a solar company or an accountant would be more knowledgeable on this) but I believe both the federal and at least NY state credits are only for installations on a home you live in. Maybe you can play games with that and claim they do reside there, but I assume it's far from 'not even shady'.

You can do it as a commercial installation and still get the credits.

[skyguy918]

You can do it as a commercial installation and still get the credits.

But isn't the commercial ITC only deductible from corporate income tax, nor personal?

[avromie7]

But isn't the commercial ITC only deductible from corporate income tax, nor personal?

No. It gets passed thru.

[dovy2]

Which state?
 This varies widely from state to state.

NY.

[Joel]

Seems the Fed tax credit increased to 30%
@cgr did you write anything about the new tax credits?