Cohousing-L Mailing List: Re: Recovery of solar tax credits by homeowners' association

[Jim Snyder-Grant (jimsg]

Hi David:

At New View (Acton MA) we have 52 panels on our common house roof. The
federal and state credits were distributed to all households. The capital
outlay  was done by a combination of loans from households & the reserve
fund. All lenders are being paid back from our operating account (plus
interest). We are funding the loan paybacks by  keeping the same electric
budget as we used  to, and all the savings (and the SREC payments) are
going to pay back loans. This is year 5, and we will be completing the
payback of loans to households this year. The payback to the reserve fund
will take a few more years, and we are going to stretch that out, and share
the joy of the savings more widely, by reducing our electric budget by a
lot.

The net meter is running backward year over year - hooray. 50 Megawatt
hours and counting of production:
http://www.solrenview.com/SolrenView/mainFr.php?siteId=24

And then there's the 8 individual household systems...write me if you want
to know more about those.

-Jim


Jim Snyder-Grant
Home: 978 266-9409
Cell: 508 572-2985
18 Half Moon Hill
Acton MA 01720



On Tue, Sep 10, 2013 at 11:05 AM, David Heimann <heimann [at] 
theworld.com>wrote:

>
>
> Hello All,
>
>         We are looking into buying solar panels here a JP Cohousing.  Part
> of the financial incentives for installing solar are Federal and state tax
> credits.  While these cannot be used directly by the condo homeowners'
> association since that it a non-profit entity, the credits can be passed
> through to the residents.  The condo can recover the credits through an
> assessment if needed to make the purchase financially viable.  However,
> some of the residents don't earn enough money to pay taxes, so would be
> hit by an assessment to recover money they never received.
>
>         So here's the question:  Has any community on this list obtained
> solar panels?  If so, how did they handle the tax credits?  (We have been
> thinking about forming a private fund where some households can donate to
> the households with no tax credits, so has anyone addressed that question?)
>
> Thanks,
> David Heimann
> Jamaica Plain Cohousing
>
>
>
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