Can I sell my surplus electricity back to the utility company?
At certain hours and on certain days, homes with solar electric systems may produce more electricity than they consume. If your local utility agrees to net metering, your surplus electricity may be credited toward your bill.
What is net metering?
Net metering is a way of measuring the difference between the electricity you buy from your utility and the electricity your home solar system produces. Under net metering, any surplus electricity produced by the SunPower system is delivered back to your utility provider, effectively spinning your meter backward. When the system produces more electricity than your home consumes, the utility may credit your account for the surplus electricity generated. Check with your local utility to ensure you are on the best available rate plan for solar and whether net metering is available.
What is an interconnection agreement?
An interconnection agreement is a contract between the homeowner and the local utility allowing the homeowner to connect their solar electric system to the electric grid and to receive credit for their surplus electricity.
Can I claim a tax credit for my system?
For a leased system, tax credits are assigned to SunPower as part of your lease agreement. For a cash system, you may qualify for the Federal Solar Investment Tax Credit (ITC). The Federal Solar ITC (Internal Revenue Code §25D) is a credit against federal income tax for qualifying solar energy systems on residential properties placed in service before January 1, 2020. The credit is determined by multiplying 30% times the eligible cost of qualifying solar systems. Generally, a tax credit is a dollar-for-dollar reduction in the income taxes that a taxpayer would otherwise pay to the federal government. Credits are subject to limitations, so the IRS rules should be consulted before any benefit is represented on your tax filing. If you have questions, you should consult your tax advisor regarding the Solar ITC and how it applies to your specific facts and circumstance. SunPower does not warrant, guarantee or otherwise advise its customers about specific tax outcomes.