If you owe it in taxes anyway, then you can consider it deducted from the cost of the system.  Without the credit, you'd be paying that much to both of them.

I was talking about the cost of the system to you, not the amount of money the solar company gets.  They get the full amount up front in either case.

But with the tax rebate, you get some of it back.

(rounding the numbers here)
IE, if you owe $50,000 in taxes and don't buy the solar panels, you still owe $50,000 in taxes.
If you owe $50,000 in taxes, buy the $70000 system, and there's no rebate, you pay $120,000.
If you owe $50,000 in taxes, buy the $70000 system, and there's a $30,000 rebate then you pay $120,000, eventually get $30,000 back, and you are out $90,000 total, which is $30,000 less than if there weren't a rebate.

 

Happy Monkey wrote:

I was talking about the cost of the system to you, not the amount of money the solar company gets.  They get the full amount up front in either case.

But with the tax rebate, you get some of it back.

(rounding the numbers here)
IE, if you owe $50,000 in taxes and don't buy the solar panels, you still owe $50,000 in taxes.
If you owe $50,000 in taxes, buy the $70000 system, and there's no rebate, you pay $120,000.
If you owe $50,000 in taxes, buy the $70000 system, and there's a $30,000 rebate then you pay $120,000, eventually get $30,000 back, and you are out $90,000 total, which is $30,000 less than if there weren't a rebate. 

I agree that the rebate helps your bottom line, BUT my point was that's between you and the taxman the solar folks still get their $69,000 regardless. It's written up like they are giving you another $20,700 off.

Like when I told Toad he could get a healthy rebate from the state on his EV. 
If he had not claimed that $1000 from the state Tesla wouldn't give a rats patootie, they got theirs.
The numbers...
Loan $69,000 @ 10.99% for 25 years = 300 payments.
       Payments are $340.98 x 17 months = $5,796.66
               Month 18  “Voluntary” payment = $20,700
                            $340.98 x 282 months = $96,497.34
                        -------------------------------------------------------                                    
                                                        total = $122,994
 
            Payments $340.98 x 17 months = $5,796.66
                              “Voluntary” payment = $0
        up $345 to $685.98 x 283 months = $194,132.34
                                                                 -------------------
                                                       total = $199,929
                                                                --------------------
                                      total difference = $76,935
I'll bet $20,700 of that $76,935 goes to the Solar company and the rest is interest for loaning it to you.

I don't understand that Shines payment of $22,362.26.
Google says... "As of December 2023, an SREC is worth $83.75 for solar systems under 10 kW (most residential systems), and $76.27 for systems between 10–25 kW. Contact Certasun to understand current pricing." and it's taxable. This one is 21.6 kW
For $140 application fee and $1240 refundable collateral deposit. WTF?
You pay $140 to have them find out if you're in line for a piece of the pie Why the $1240.
Ahh, I'll bet if you get pie it's paid direct to you and the $1240 is to make sure they get their "commission".

Then they have $25,937.34 net cost for the system.
C'mon, crazy claims, you know better, probably selling used cars yesterday.