Deduct Everything!. Eva Rosenberg
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Название: Deduct Everything!
Автор: Eva Rosenberg
Издательство: Ingram
Жанр: Малый бизнес
isbn: 9781630060480
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TOTAL STEP B:
Step C
Deduct the total rebates and discounts you received in Step B from your Step A costs. This will be the net cost you can use to determine your IRS energy credit.
Step D
Deduct your federal (IRS) energy credit (30 percent × Step C) from the net costs you arrive at in Step C.
This will give you your net cost for the use and installation of your new energy system after all rebates and credits. Divide this by the number of years your system is expected to last, before you have to replace most of it.
That’s your annual cost.
Step E
Add up the utility bills that you realistically expect the system to replace. Review your utility bills carefully to see what it really covers. For instance, an alternative energy unit will not reduce your cost of trash pick-up, use of the sewage system, water usage, or certain other costs that may be buried in your water and power bill. It is likely to reduce cost of gas and/or propane and the need to pay for deliveries. (Did you know there were this many things you pay for in that single utility bill?) Once you determine how much you really will save by installing this system, compare it to the annual cost you arrived at in Step D.
Are you going to save any significant dollars? If it turns out that the installation will end up costing you more than you will save, you have to decide if you want to do it anyway for ecological, emotional, or other reasons. But at least you will make the decision with your eyes open. Note: In most cases, we learned the costs were higher than the benefits.
Step F
One last consideration to take into account if this is a financial loser. Will adding this system increase the market value of the home when you ultimately decide to sell it? If so, by how much? Alternatively, how much will it reduce the sales price of your home if the system looks ratty and shabby by the time you’re ready to sell?
If you have trouble sleeping at night, consider reading these reports from the National Renewable Energy Laboratory (NREL). One is from 2009 about residential photovoltaics (http://www.nrel.gov/docs/fy10osti/46909.pdf). The other is about heating water, from 2011 (http://www.nrel.gov/docs/fy11osti/48986.pdf). My husband is actually fascinated with this kind of material. For me? It’s gibberish. Important gibberish, no doubt, but way over my head.
Tip #74:
What about leasing these systems instead of buying them? That could be a great alternative. There are lower paperwork demands, the leasing company handles the maintenance, and you just sit back and enjoy the reduced utility bills, right? You generally have to pay for the privilege. Expect to pay about $3,000 or so for them to set it up (even if they say it’s free). You will not get any tax credits. They will keep them all. If this is installed on a rental property, you will not be depreciating the cost of the unit(s) because you didn’t pay for them. Ask questions. If your house or property generates excess power and sends it to the grid, who gets the money—you or the solar company? If you will start paying the solar company for your utilities instead of the local utility company, what protection do you have against price increases? Read all contracts very carefully so you understand all your obligations. If you don’t understand some clause—ask. Do not let them bully you or charm you away from answers. The contract will generally run for ten to twenty years. You need to make sure it is transferable to a new owner and disclose the terms to any potential buyer. Make sure you are not hampered from selling the home because of this. Find out if they will put a lien on your home, and if so, for how long? You don’t want this affecting your credit. What are your obligations to maintain the roof and other adjacent parts of your home or property? For instance, if there is a tree overhanging the roof, how often do you have to trim it back (or will they)? What costs or penalties will you face if your tree damages their solar panels? Will your homeowners insurance cover this, and how much extra will it cost? Will the solar company carry insurance? What are their obligations if their installers are careless or sloppy and create roof leaks or other damage to your home? If they open up part of the roof or wall, or cut into your patio or yard, do they pay to close it up or to fix, repaint, or replant? And what if they go out of business, go bankrupt, or sell the company? Who owns your system then? Who takes care of it? So if you are considering the leasing option, be sure the company is financially solid and not planning to go public or sell their business while you live in the house (if possible).
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