With the house being all electric and the gas bills any thought of going solar with an electric car? Not great for everyone or every area but just wondering
What % of your takehome pay are you spending on living expenses?
- Thread starter deadeyededric
- Start date
We've quoted solar several times but it mathematically does not make sense. With the amount of electricity we use coupled with we live in a wooded area, the amount of panels we would need and the cost associated with those panels we are looking at an 18 year breakeven. In 5 years- our family of 5 will be a family of 2 and consume a significant amount less electricity. In other words if I take the check I would write for solar and divide that into a monthly amount.......I can buy a lot of electricity with that amount.
Everyone says I need to go solar.......the problem with Solar is.....the math aint mathin.
We get a ton of sun on the back of our house. Would be great to harness that, but Im not confident we will be in our house long enough to make that investment worth it.
And if your electric company buys back the unused kWh. If not, you need to get batteries and those are super expensive to make it worth it.
Yeah. Net metering was a prereq for us to do it. We have produced 98 and 99% of our energy usage the last two years and have saved over $2000 annually compared to our pre-solar electric bill. Electric rates have shot up the last few years here with massive approved rate hikes via the state (NY). So my savings are actually greater the comparison to pre-solar rates.
If you don’t mind me asking, approximately how long until you are at a net positive on the solar?
Want a big tax refund, just say you bought a solar project. All you need to do is put the "price" you paid for the project. No other information. It's quite stupid, you need more information to claim the $600 energy efficient furnace credit than a credit that gives you 30% of the cost project.
When I was single, I would have money budgeted for savings and if I had a month that went over budget for some reason, I cut back on the next month/s until I was back in the black for the behind month on.
When I got married, it was a disaster. Married someone from a family that had no money know how and just spent and let me deal with it. Thankfully I could always pick up extra jobs or cut my expenses to cover the issues.
With known rate increases over the next few years and holding that rate (obviously it will go up but I’m just holding it with what’s known), we will be net positive after about 10 years. We paid off our 15 year loan off in 2.5 so we avoided a bunch of interest as well even though it was only at 3.5%.
I put up solar at a farm site with livestock. If it wasn’t for all the tax credits and grants, I would have lost money on the project. Right now the panels are far from what they quoted for production so I’m probably a 10-12 year payback after about 70% grants and tax credits. Electric is from a co-op some I’m around 10 cents a kW.
Now that we figured out what a degree is, let's go back to the discussion of discrimination against single, childless people and the single's tax that is prevalent across society.
You couldn’t have posted this prior to 4/15?
I think the key to financial happiness for my wife and I has been maintaining a modest lifestyle. We've lived in the same house and worked for the same employers for 40 years.
While many of our friends moved into bigger and more expensive homes a couple of times over the decades, we chose to invest in our original home and pay it off ASAP so we could afford to put three kids through college.
We've recently retired, we live very comfortably, and we're in a position where we can help our adult kids financially while they're trying to get started on their own.
I also know we've been incredibly blessed, so I don't take that for granted.
While many of our friends moved into bigger and more expensive homes a couple of times over the decades, we chose to invest in our original home and pay it off ASAP so we could afford to put three kids through college.
We've recently retired, we live very comfortably, and we're in a position where we can help our adult kids financially while they're trying to get started on their own.
I also know we've been incredibly blessed, so I don't take that for granted.
See and I paid $32k for a brand new '17 Express trim quad 4x4 hemi. And now they want $50k for one with the old V6? That's ridiculous.
An amendment without need of proof on the amount sounds like begging for an audit lol.Do an amendment or use that information for next year.
Not really, an amendment is not a red flag, people file amendments for all sorts of reasons. And something that doesn't need proof, like the solar panel credit, in the first place isn't a red flag.
For example, last year I did an amendment in July for a client that forgot to give the information for his solar panels to me when i did his original return. So I did I added the amount he paid for the solar panels and filed it, resulting in an additional refund to what he was already paid.
And the likelihood of an audit is so low anyways. You have to do something pretty outrageous to get audited.
$32k invested in an S&P500 index in 2017 would be about $112,000 today ... just sayin.
