update on being in the 1%
by, 13-Sep-2015 at 05:40 (486 Views)
So the incentive check for the solar panels I had put in back on November 28th finally came today.
People where wondering if it was going to be worth doing this. So here are the hard figures for the investment into solar panels in the Pacific Northwest:
Solar panel payment $2552
Power bill $931.41
Power company payment for power sold to them $90.28
Power I used and did not have to buy $220.90
Tax credit for this year $5,900.00
State power incentive (for all power I produced) $1,298.00
If I did the math correctly then that means $6120.90 I did not have to shell out, and $1388.28 that I have put towards the energy bill and solar panels.
Therefore I paid my power bill and $456.87 of the solar panel costs.
Then if I convert the tax credit to the total $4,200 refund that we got. it actually comes out to $3743.13 in our pocket and why for the first time in 4 years we where able to actually have a family vacation this year.