NexPower modules? Help in choosing a system

[bpollard]

Got an estimate for a home solar system today.
it is for a 5.8 kW Photovoltaic System
40 NexPower Technology NT-145UX modules
1 power inverter (Power-one) PVI 4.6 OUTD-US 240V (if I can read his handwriting).

$23147.08 all in
$13992.50 rebate from the city
$6944.12 Federal Tax Credit
my costs would be $2,210.45

Is this too good to be true? (city rebate is confirmed - $2.50/watt)

after googling NexPower, I don't see much about them... are they junk? I looked for them on this form and nothing came up!
are they pretty much junk?
any help is very much appreciated

[bpollard]

I should point out the other option they gave me was
6 kW Photovoltaic System

24 CNPV 250M Monocrystalline Modules
1 Power-One Inverter

total System cost $24,305.25
City rebate: $14,475.00
Federal Tax Rebate $7,291.58

My cost: $2,538.68

Seems like the CNPV panels are a better bet?

[bpollard]

Sorry, my Zip is: 78735

[Mike90250]

I want to move to your city. If that rebate is real, it's unbeatable.

What is your expected power harvest from the system ?

Why 5.6KW of PV and 4.6KW of inverter - poor sun angle, and full output is never expected ?

[russ]

Austin will certainly be the next city to have to file for bankruptcy with expenses like this.

Better recheck the quote - very likely the salesman is doubling up on the subsidies some place - that is too low.

[bpollard]

Thank you for your feedback.
you can look for yourselves here:

http://www.austinenergy.com/Energy%20Efficiency/Programs/Rebates/solar%20rebates/residential.htm

but it really is $2.50/watt, call them and ask if you like!
Luckily, Austin is very financially healthy, and they won't be filing for bankruptcy anytime soon.

So looking around, it seems those NexPower panels are "teir 5" panels, should I stay away from them?
the point about a only a 4.6w inverter is a good one and I will ask that question.
they "guarantee me" (and they put it in writing) 882 kW hours/month

their math, using the Nexpower panel quote;
40 panels x 145 kW/panel = 5.8 kw
Using 5 hours/day:
1825 hours/year x 5.8 kW = 10,585 kW-hour/year
10/585 Kw-hour/year x 1year/12months = 882 kW hour/month

I am suspicious.... what else should I be looking at!
Thanks,
Brad

[bpollard]

bump - can anyone give me anymore insight?....

[Naptown]

I have used the CNPV modules. We have had no trouble with them. They are third party insured By Willis insurance of Germany.
I would go with these modules. and not a large quantity of small modules. Less potential for something going wrong.

[Wy_White_Wolf]

Contact your accountant/taxman for the rules on the Federal tax credit. I've been told it is to be calculated on the amount after any state, local, utility subsidies are subtracted. Calulating it that way it ends up being about 35 to 40% of the quote.

WWW

[Naptown]

Contact your accountant/taxman for the rules on the Federal tax credit. I've been told it is to be calculated on the amount after any state, local, utility subsidies are subtracted. Calulating it that way it ends up being about 35 to 40% of the quote.

WWW

It depends on how the rebate is done.
Most Cities and muni's will 1099 you for the amount of the rebate. In which case the full amount is used for the 30% federal credit. If it is a rebate that is applied toward the install cost and paid to the installer then the 30% would on the amount after the rebate.
Now if you are in the 30% tax bracket that pretty much wipes out a little more than half the federal credit.

Example
5 KW $20,000 system
30% federal credit = $6,000.00
$2.50 per watt rebate from city (taxable)= $12,500
Taxes on the rebate @30% (Generally federal only) = $3750.00
Net system cost $20,000-$18500 + $3750. =$5250.00

[rick1]

Fed rebate

Got an estimate for a home solar system today.
it is for a 5.8 kW Photovoltaic System
40 NexPower Technology NT-145UX modules
1 power inverter (Power-one) PVI 4.6 OUTD-US 240V (if I can read his handwriting).

$23147.08 all in
$13992.50 rebate from the city
$6944.12 Federal Tax Credit
my costs would be $2,210.45

Is this too good to be true? (city rebate is confirmed - $2.50/watt)

after googling NexPower, I don't see much about them... are they junk? I looked for them on this form and nothing came up!
are they pretty much junk?
any help is very much appreciated

If you look at the Fed 30% rebate it applies after any other government rebates. This would be $23,147.08 - $13,992.50 city = $9154.58 x .30 fed rebate = $2746.37. $9154.58 bal - $2746.37 fed = $6408.21 your cost.

[Naptown]

If you look at the Fed 30% rebate it applies after any other government rebates. This would be $23,147.08 - $13,992.50 city = $9154.58 x .30 fed rebate = $2746.37. $9154.58 bal - $2746.37 fed = $6408.21 your cost.

Wrong.
As I stated before if the utility or government agency 1099's you you take the 30% on the whole amount.
Only if the rebate is not included in your gross income is the credit reduced by the rebate amount.

From the instructions on the IRS form

If you received a subsidy from a public utility for the
purchase or installation of an energy conservation
product and that subsidy was not included in your
gross income, you must reduce your cost for the
product by the amount of that subsidy before you compute your
credit. This rule also applies if a third party (such as a contractor)
receives the subsidy on your behalf.

[russ]

This is Rich's (Naptown) business - dealing with it daily and knows it very well.

Wrong.
As I stated before if the utility or government agency 1099's you you take the 30% on the whole amount.
Only if the rebate is not included in your gross income is the credit reduced by the rebate amount.

From the instructions on the IRS form

If you received a subsidy from a public utility for the
purchase or installation of an energy conservation
product and that subsidy was not included in your
gross income, you must reduce your cost for the
product by the amount of that subsidy before you compute your
credit. This rule also applies if a third party (such as a contractor)
receives the subsidy on your behalf.

[KRenn]

Got an estimate for a home solar system today.
it is for a 5.8 kW Photovoltaic System
40 NexPower Technology NT-145UX modules
1 power inverter (Power-one) PVI 4.6 OUTD-US 240V (if I can read his handwriting).

$23147.08 all in
$13992.50 rebate from the city
$6944.12 Federal Tax Credit
my costs would be $2,210.45

Is this too good to be true? (city rebate is confirmed - $2.50/watt)

after googling NexPower, I don't see much about them... are they junk? I looked for them on this form and nothing came up!
are they pretty much junk?
any help is very much appreciated

Slick salesmen didn't tell you that you'd be paying about $4200 additional in taxes on that incentive. Still a good price though when you look at it....6 kW purchased for about $6500, talk about a steal.

[bpollard]

Slick salesmen didn't tell you that you'd be paying about $4200 additional in taxes on that incentive. Still a good price though when you look at it....6 kW purchased for about $6500, talk about a steal.

What does this mean? I'm a novice, can someone tell me where the additional taxes are coming from?....
thanks!