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SVTPerformance's Chain of Restaurants
Road Side Pub
Anyone have solar panels??
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<blockquote data-quote="9397SVTs" data-source="post: 16565133" data-attributes="member: 143297"><p>I'm not understanding what you are trying to ask about getting rebates and having to increase your monthly usage.</p><p></p><p>The state and Federal tax credit (rebate) will be claimed on your taxes this year, for 2020. You'll provide a copy of your solar contract, along with your other tax documents, to your accountant. The Federal credit is 26% of the purchase price (no limit) and the state might just be a fixed amount.</p><p></p><p>Here in AZ, the electric company limits the size of your system to 125% of your highest single time usage during the previous 12 months; which I did. I have a 13KW, 26 panel system.</p><p></p><p>I am on net metering billing. If the panels generate more energy than I use during a billing cycle, I earn credit via selling energy to the company. This credit can snowball month after month. If I use more than I generate, monies come out of my credit until it is exhausted and then I would receive a bill for the difference. If I have any credit at the end of the year, they send me a check for that amount and we start all over again.</p><p></p><p>Due to the cost of electricity, extended summer heat, and number of sunny days, my ROI is just over 8 years at current costs. The cost savings will only increase as the years go by due to the rising costs of electricity.</p></blockquote><p></p>
[QUOTE="9397SVTs, post: 16565133, member: 143297"] I'm not understanding what you are trying to ask about getting rebates and having to increase your monthly usage. The state and Federal tax credit (rebate) will be claimed on your taxes this year, for 2020. You'll provide a copy of your solar contract, along with your other tax documents, to your accountant. The Federal credit is 26% of the purchase price (no limit) and the state might just be a fixed amount. Here in AZ, the electric company limits the size of your system to 125% of your highest single time usage during the previous 12 months; which I did. I have a 13KW, 26 panel system. I am on net metering billing. If the panels generate more energy than I use during a billing cycle, I earn credit via selling energy to the company. This credit can snowball month after month. If I use more than I generate, monies come out of my credit until it is exhausted and then I would receive a bill for the difference. If I have any credit at the end of the year, they send me a check for that amount and we start all over again. Due to the cost of electricity, extended summer heat, and number of sunny days, my ROI is just over 8 years at current costs. The cost savings will only increase as the years go by due to the rising costs of electricity. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Anyone have solar panels??
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