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I’ve Discovered the Solar System

This year you can write off your entire solar panel/power inverter/battery/utility grid hookup – the whole power plant!  Last year you could only write off a portion of it.*  The amount you could write off was under $3,000.00.  Now, it’s true that you will have to research with regard to your specific state,  how it may impact your state taxes, how it impacts your real-estate taxes, and whether or not it is permitted in the area where you live – that of course is a completely separate issue.  The reason I write this is the following:  We have been presented with such an obscene bacchanalia of spending by our Democratic Congress that I am convinced that it is our absolute duty to do everything we can to avoid taxes, and hey ->  If you are putting up solar panels, you’re responding to the President’s cry for implementing alternative energy! 

There is one catch.  The system has to be fully installed and up and running for you to be able to write it off on your income tax.  Now, I’m not an accountant, so you should check out the details of how this impacts you, but I will say this.  In terms of what to invest in in the future -> invest in things you can write-off,  because the way the economy is going, that write-off may be the only real perk you get for a while.  Obviously, don’t run out and finance solar panels with money you don’t have, especially if you think your company is going to be laying people off.  Also, don’t buy them if you live in Nome Alaska (or is it Gnome?).  They won’t work for half of the year.

 

There is another logical advantage to installing solar panels.  If you do find yourself out of work, with less work, or facing skyrocketing energy costs, it will be nice to know that you have a system that is providing you with at least some of your energy.  The reason I say some is this ->  Don’t get excessively optimistic.  I’ve looked into the solar panel set-up for my house.  I will end up doing some form of alt energy.  It will cost me about $7,000.00 to get started with an inverter,  grid interface, and some panels, if I go solar. 

Now, there are a few caveats that you have to be aware of:  If you feel you need to have  a system that is able to rely on batteries in case of a power outage -> that works with one kind of inverter.  If you feel you need a system that will be selling electricity back to the electric company, that’s a different kind of inverter.  There are inverters that do both, but – so far – they cost more.  Also, and if anyone out there knows differently, please correct me – but my research has yielded this ->  If you have the dual inverter that can hook up to batteries, and to the power grid you need to have the batteries hooked up, you can’t come and add them later.  I know it seems a little ridiculous, but that is the information I have so far.  Of course, the misfortune with that is, if you wanted to have the inverter that could do both, but you wanted to maybe add the batteries later down the road, it seems that perhaps that is not as easy as it seems.

 

Also, you must plan wisely if you are going to use batteries, because, they should not be in your house, for safety reasons, and they need to be in a facility that stays dry. So, you have a lot to think about:

Tax write-off, energy savings, emergency power source (if you use batteries), your tax money won’t be building abortion clinics or fantasy land express monorails for Nancy Pelosi’s bankrupt state whose u.s. Senators and Representatives sponsor write or co-author a disproportionately large amount of our most liberal bills that come before Congress -> (Hmm, California, maybe God isn’t blessing.) 

As you start to research your self-sufficient energy setup you will find that many manufacturers of panels and inverters are well-known companies.  I originally began my search because we have power outages where I live that have been known to last three days.  I originally began to research Natural Gas Whole-House generators, but I quickly moved to the idea of trying to recoup some of my energy cost using the sun or wind.  

You will also probably find that as energy costs skyrocket, your own solar-system and the canned goods you bought six months ahead of time are a better hedge on inflation than anything you’ve put in the Market.  The market?  What market?  The fish market? 

…despite the Obama administrations supposed committment to alternative energy, they may find it necessary to eliminate this tax write-off next year only because they’ll be looking in every crook and nanny for money to pay the interest on our country’s new second mortgage, and also, of course because paying taxes is patriotic, (unless you’re a Democrat appointed to a cabinet position).

 Let me know how the solar search and deploy goes for you.  I’m interested in any of the pitfalls you encounter.  Of course, I hope there are no major ones. The minor ones will be there.

Here’s to a little sunshine in our lives.  Of course, if the comet hits and the skies are blacked out for weeks or even months, we’ll wish we had gone with wind…. 

 

 

*the write-off of course is only useful if your financial circumstances make you eligible to take advantage of it.

 

-John P. Schumake

 

 

 

 

 

 

 

 

 


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