Solar Grant Quest

[LowGear]

Have any of you heard about any solar grants?  We're a farm, a residence and a small business. 

Casey

[Carlb]

I don't know about a grant but there is a 30% federal tax credit for solar with no limit.  If you spend 100K on a system you get a 30k tax credit against your taxes that you can deduct for at least the next 6 years.  That tax credit is not a deduction but an actual credit against your taxes.

[LowGear]

Thanks Carlb,

As usual, here with good reliable information.  Now to step into that other zone known as "Rumorland":  I've heard you can file for a full refund of your tax credit.  We probably won't have $30,000 in taxes over the next 10 years - oops I forgot about inflation but it will still be a long time.  Back to reality:  Then in Hawaii we get a 35% tax credit - not bad for a broke tinser state but I WANT IT ALL! 

National Resource Conservation Service (part of USDA) has a 25% grant for farms and businesses but I'm always looking for the perfect deal.  And then why am I setting here typing when I could be filling out the forms from NRCS?  I WANT IT ALL! 

The Camp Aloha goal is to be 75% self sufficient by 2015!

So seek on my brothers and sisters. 

Casey

[Carlb]

Casey,


I was just using the 100k and 30k tax credit as an example.  In reality you can install a huge solar array for 100k if you do the work yourself. My 11.2kw system was about 1/3 that amount self installed.  If you can do it yourself or want to farm out the labor contact TTI solar on the west coast and talk to Joe Morant.  I got a real good on the racking and panels from them. 

carl

[LowGear]

Hi Carl,

Yes, I know about your very enviable system and the costs.  I did understand we were talking examples and not actual systems.  But we spend consistently $700 a month which in ten years will look an awful, and I mean awful, lot like $85,000.  I've pestered you a few times about all of your systems.  The grid is a beautiful thing but I don't see the need to double or triple tithe to it.  It is by far our single greatest annual expense.

I'm going to contact turbo tax when I purchase it this season and inquire about cashing out my tax credits.

I'll give Joe a call but Hawaii is a long haul even from California.  Some of the bigger houses drop ship from all over the US.  I just priced a 230 watt panel at the local seller and they want $750 plus 4% tax but no extra shipping.  That was the street price but I suspect some clients pay less.  I do plan on self installing under the guidance of a certified electrician.  Home owners can NOT pull permits in this state. 

I'm still looking for the brass ring.

Thanks,

Casey

[LowGear]

I have some updated information on converting renewable energy tax credits to cash back.  The first document I've found is:

http://thomas.loc.gov/cgi-bin/cpquery/?&sid=cp111H3q2C&refer=&r_n=hr016.111&db_id=111&item=&sel=TOC_820584

Unfortunately it doesn't give the IRS form to achieve this miracle.  Anyone have more information?

Casey

[Carlb]

Casey,

Take a look at this link it might be helpful

http://www.treas.gov/recovery/1603.shtml

[LowGear]

Thanks Carl,

I don't read so good so I've asked my solar guidance counselor to review it and tell me what it says.  As a farm and a business I'm pretty sure it would work for me.  Thanks again, again.

Casey