Hey everyone! I'm considering purchasing 60 solar panels from a friend because they can't install them anymore. These are JA Solar jam6(k)-72-355/PR/1500v panels at 355W each. The tricky part is, they don't have proof of purchase or warranty. I'm negotiating the price and might get them for about $40 each, which feels like a decent deal. I have a few questions: 1. Can I still get a tax credit if I buy these panels privately, and if so, how would that work? 2. What's the best battery and inverter combo for my setup since my net metering will likely change soon? 3. Is $40 per panel a reasonable price without a warranty? 4. Should I just buy new panels instead of these? 5. Any good resources for a beginner in DIY solar? Just for context, I live in Central Texas and have a $0.12 per kWh rate. I consume about 1520kWh monthly, with winter being a bit lower, but I'm shaded quite a bit during that time. I might have a good deal on these panels, so I'd appreciate any advice!
3 Answers
You can legally claim the tax credit for those panels if they've never been installed before, but be ready for some potential IRS scrutiny. Since your friend isn't using them, they count as new for IRS purposes. Just make sure to get a sales contract that states the panels are new and haven't had a tax credit claimed on them before. It could help protect you if the IRS comes knocking!
But remember, just because you can claim it doesn't mean they'll make it easy. Prepare for some possible pushback from the IRS.
The price sounds pretty good, especially for those panels if they're in decent shape. Just ensure you have documentation proving you paid for them. Also, double-check with your local regulations for any other requirements before you install anything. It can be tricky, but as long as you're diligent with paperwork, you should be fine!
Where's the best place for a good deal on new panels, though?
Could you recommend any brands that are reliable? I want to ensure I'm not wasting money!
For the tax credit, you'll need some basic documentation, like proving you paid for the panels, but you don't necessarily have to have all the permits unless your state requires them. The IRS doesn't specifically require those documents to grant the credit; they're more formality in case of an audit. Just keep everything organized, and you should be good to go!
Exactly, I just want to make sure I have everything in order before I make a move.
But how does one prove they bought those panels if the friend can't provide a receipt?
Thanks for the info! So I can claim the credit as long as I document this properly?