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Jan 11, 2017
silent_t Starter
RE: Self install rooftop solar 8ish month update
Just thought I'd drop some updates on my solar project that I completed back in May.

Since turning the system on around May 15th, I've produced 6.774 MWh of electricity. My per kWh average cost before installing was around 11.5 cents. So, total value of electricity produced so far is $779.01.

Winter has not been kind to my production numbers. I went from a July peak of 1.139 MWh to only 0.419 MWh in December. You can see my monthly numbers here: http://pvoutput.org/aggregate.jsp?id=50571&sid=46005&v=0&t=m

I'm just getting around to dealing with the tax rebates. Here are some resources for those interested.

I just submitted the state application which should result in me receiving a Form TC-40e with amounts I can enter on my state tax forms on Form TC-40a. They say I should get a response in 4-6 weeks. The documentation required when applying was pretty detailed, needed photos, dates and receipts.

The federal form seems less involved. I'm guessing whatever online tax program I use this year will have this form built in and I just enter my numbers.

In the end, I spent $8,136 out of pocket. I'm expecting a federal rebate of $2,441 and a state rebate of $2,000. Net out of pocket spend will be $3,695.

Extrapolating my production for 2016 I expect to produce around 3.5 MWh of additional electricity by May 15 2017 which will give me a 12 month total of 10.368 MWh or $1,192.32.

All these numbers together give me a pay-back period of 3.1 years. Right on target!

TL;DR: On track for 3 year ROI. Taxes are complicated.
Originally posted on Jan 11, 2017 at 9:30:24pm
Message modified by silent_t on Jan 11, 2017 at 9:31:12pm
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1/11/17 9:41pm

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