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Where I live (WA state USA), there are some crazy tax incentives here for solar. Rough math: 1. 30% rebate on federal income tax, so that's $12K back in the fi
by localhost 11y ago
Where I live (WA state USA), there are some crazy tax incentives here for solar. Rough math:
1. 30% rebate on federal income tax, so that's $12K back in the first year.
2. $0.54 / kWh WA state energy production credit which is capped at $5K / year. The estimated power production of a 9kW array over 1 year should get me pretty close to $5K back. The production credit expires in June 2020, which means that best case I get $25000 back from the state.
Without factoring in energy cost savings, I nearly break even in 5 years. Energy cost savings are somewhere in the neighborhood of $1200 / year with solar.
If the only rationale was energy savings, it's not a good investment. However, the tax incentives make it very attractive indeed.
More details on WA state incentives here: http://www.solarpowerrocks.com/washington/ http://www.solarpowerrocks.com/washington/
- sremani 11y agoThat is some killer state energy production credits. Now your plan makes complete sense.