I have a client that installed photovoltaic solar panels for his personal residential use early in 2010. The local electric company pays him $0.13 per kWh. The client will be taking the 30% tax credit. Is the $0.13 per kWh to be reported as income? Is so, can he depreciate the net cost (after credit) of the photovoltaic solar panels?
In addition to the above renewal energy credits, the local electric company does net metering and in this client's case he is producing more kWh than he uses so he does not get any electric bill for his personal residence.
In addition to the above renewal energy credits, the local electric company does net metering and in this client's case he is producing more kWh than he uses so he does not get any electric bill for his personal residence.