"First, the rebate is for money you already spent and does not get reported to the federal government.
Second, how will the government track when the panels are in use? If I am on vacation the panels will be inactive with regards to home power draw vs recharging my home power backup system? How will the government know if I don’t have the power company installing my panels because are several different companies here in the North East that do installs and I don’t have to sell my power to the electric company?
Besides if I do pay a 20% Income Tax when I sell the excess power but save 100% on my electric bill it seems like a really good deal."
I’m sure that rebate money is declared and noted to a specific address in case of audits…and there are likely to be audits…
The gov’t will assume the panels are in use - if you sell power to the power company, which might even send you a 1099 form each year- and copy to gov’t - electronically. Likely the power company will report on ‘all power generators’ they use, cost to buy , how much, etc.
If you don’t sell power to the power company - fine - no ‘income’ no tax.
Of course, if you make extensive use of that battery at night, after 10 years you’ll be replacing them for $10,000 or more…
You’ll pay at your marginal tax rates.
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