Anyone with experience with microFIT solar

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Originally Posted by werner.reiche

Okay - but the business can only write that off against its income - its not a refundable tax credit.
Is the business going to have any other income - other than what you are going to pay it for your electricity?
If not, you are going to pay this business the amount of the CC with your AFTER TAX dollars.
...and the amount you claim as the initial capital cost will be what the business pays you for it - you can't just "give" it to the business and then claim CCA on it (well, not legally). And the amount you receive from your business for this is "personal taxable income".

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Yes, not looking to do anything illegal. Just trying to understand how the current owner has the system set up with a business account in eyes of the local utility & how to get that transferred over to us.

I would think if you spent a 1/2 hour at the computer and checked online there is probably a forum for solar panel users and maybe find your answer there, or even the government website, this must be getting to be a bit of common occurrence with people selling their homes with the solar panels on them.

I have a friend who had a deal to buy a house that had a solar setup, due to the nature of it they were calling the property commercial and he was not able to get a mortgage, maybe ask that question too, will that potentially change the zoning.

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Originally Posted by Fox

I have a friend who had a deal to buy a house that had a solar setup, due to the nature of it they were calling the property commercial and he was not able to get a mortgage, maybe ask that question too, will that potentially change the zoning.

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From a property tax perspective you do not want to get rezoned from residential to commercial. Commercial in must areas is 2-3x what residential is.

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Originally Posted by werner.reiche

From a property tax perspective you do not want to get rezoned from residential to commercial. Commercial in must areas is 2-3x what residential is.

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Mortgage turns to business and insurance ends up as business as well, it can cost you a lot more money.

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Originally Posted by BIG MAC

I would think if you spent a 1/2 hour at the computer and checked online there is probably a forum for solar panel users and maybe find your answer there, or even the government website, this must be getting to be a bit of common occurrence with people selling their homes with the solar panels on them.

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Yup, the IESO has a microFIT page with a pdf on how the assignment process works. I am working through that now.