Solar Power Installed in Charleston Metro?

[LocalHero]

If I remember correctly, the panels are figured to last 30 years. Unless you install them on a new 30 year roof, there's going to be a big expense to consider when it comes time to re-shingle the house with those panels up there.
A friend of mine has had solar panels on his roof on James Isl for as long as I can remember and he just added more. He was an "early adopter" and remains enthusiastic but is not necessarily someone for whom the financial numbers would have to add up to undertake such an experiment. My own house is too shaded, making it a moot point for me.

[evertec]

Originally Posted by gliderguy

Also be careful with many of these rebates. The solar companies are not being upfront with you. Many issue a 1099 for your rebate. You have to pay taxes on those rebates.

Which rebates are you referring to? The only "rebates" we had were tax credits, so of course you don't pay tax on a tax credit.

[Ziggy100]

Originally Posted by Chs2014

Lack of great tax credits in Charleston = Huge upfront costs


Living in a hurricane prone area makes me a little nervous.

The hurricane thing is probably no big deal since it's just as insurable as any other part of the house.
Whenever a too good to be true deal comes along, I try and look at it from the perspective of what a business who actually pays people to figure out this stuff for them would do. Right now it appears that everybody from Walmart to Costco don't think it's worth it despite having every advantage to owning solar.

[gliderguy]

If you read up on the solar forums or Google "solar rebate 1099" you will see that some rebates are available and they issue a 1099-MISC which is taxable. And in most cases the solar installer never mentioned it. Also if you live in an area where the electric company does buy back your electric that is taxable income and your electric company will also send you a 1099.