Tor Valenza aka "Solar Fred"

[...] local installers Find Local Solar Installation Companies Our Mission Past Articles RSS Feed Solar in Los Angeles-Tor Valenza Solar in Portland-Dan Hahn Solar in San Francisco-Dave Llorens Write for SPR [...]

Joseph Suto

Guys,
I live in PA and just embarked on putting solar on our roof. We just signed a contract for an 8.8Kw system.
When doing some research I stumbled on your site and appreciate the content.
I think the section that talks about the Federal and State Credits or rebates may be wrong. Your info states that the 30% Federal credit is taken after your local states rebate or credit program. In fact the Federal Rebate is always taken off the whole cost of the system.

Example:
System Cost: $65,000
Federal Rebate: $19,500
State Rebate: $19,800
Net Cost: $25,700
I think you do however have to count the $19,800 State rebate as taxable income.
http://seia.org/galleries/pdf/SEIATaxManual_v3-0_FAQ.pdf
Thanks,
Joe
sutojl@verizon.net

Tor a.k.a. "Solar Fred"

Joseph, thanks for commenting, but from what I just read from that same document, I think we’re right. You may have been reading about the commercial ITC.

What leads me to beloeve that we’re calculating correctly is this passage here from the same document:

“A rebate received by a homeowner in a residential context usually does not have to be reported as
income when the rebate is received from the local utility. A homeowner who does not report the
rebate as income takes a “tax basis” in solar equipment equal to the net amount he paid. In other
words, if the solar equipment has a gross cost of $20,000, but a rebate from the local utility pays
$2,000, then his tax basis in the equipment for purposes of calculating the residential tax credit is
$18,000.”

Again, we’re not tax experts, so perhaps we’re mis-interpreting, but …that’s the part we’re going by and a lot of solar software calculators calculate it the same way, after deducting the rebate. Also, I believe as of this writing in September 2009, the IRS has yet to specifically give guidance about residential. Best thing to do is consult your tax person. One way or another, it’s going to be good for you and good for solar. It’s just a question of HOW good.

Thanks for commenting and any way you look at it, your rock, Joseph, for going solar!

K

Does this mean the $15,000 rebate in NY is no longer available? Applications had to be in by May? NYS Renewable Portfolio Standard Customer Sited Tier Fuel Cell Program Incentive Summary
Available Funding Through 12/31/2009(applications must be received by 5/29/2009, contracts must be executed by 12/31/2009):

Tor a.k.a. "Solar Fred"

Not sure about fuel cells, but I do know that solar rebates are still on until funding runs out or December 31st, 2009, whichever comes first.

Doug

Hey Guys, I’m looking to get into the solar field. I’m trying to find legit reviews on some schools/training that I’ve found. I see that Solar Fred mentions 2 in his bio. Are either/both of these worth the $$. Some of the schools aren’t cheep ($3400 for 6 days) while others offer for less (under $1000 for 5 days).
Can anyone help?

John Bariana

I love this website, I am an installer how do i get on your list to give free quotes?

Tor a.k.a. "Solar Fred"

John,

We are currently not accepting any more installers, but we will keep your contact info on file when that changes. Could be soon, but rest assured, you’re in our database. Thanks for visiting.

dbozek

looking to understand consumers energy incentives for solar. have not been able to find a lot on the desire site, thought you may have the knowledge. Great job on the site and spreading the word about renewables.

[...] ArticlesRSS FeedSolar FAQShirts and stuffYour Solar Bill of RightsContact usAbout Us:Our MissionTor a.k.a. "Solar Fred"Dan Hahn Dave Llorens State Solar Power Rebates, Incentives, and Tax [...]