kidenraikou t1_isaybk1 wrote on October 14, 2022 at 4:05 PM

Reply to comment by JimmyJoeJohnstonJr in FREE ELECTRICITY! Credit Suisse analysis says Inflation Reduction Act will produce solar modules for two pennies a watt in Ohio, while federal tax credits will cover 50% of project costs. by manual_tranny

That we already paid for. At least it's coming back to us to incentivize making the country better, rather than just adding another billion to the military budget.

[deleted] t1_isb31c0 wrote on October 14, 2022 at 4:37 PM

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kidenraikou t1_isbf2hc wrote on October 14, 2022 at 5:57 PM

I meant in the form of tax incentives for the middle class. Yes, we're technically paying for it. But they are giving us that money back, come tax season.

JebusLives42 t1_iscahsg wrote on October 14, 2022 at 9:28 PM

>But they are giving us that money back, come tax season.

No, they're not. They money they spent on solar panels will not be refunded to you.

It's possible they'll print other dollars, and give those to you.. but that also has some interesting consequences.

kidenraikou t1_iscbe0o wrote on October 14, 2022 at 9:34 PM

Yes it will. It's literally a tax credit. You pay less in taxes at the end of the year, thus receiving a larger tax refund.

JebusLives42 t1_iscd93t wrote on October 14, 2022 at 9:47 PM

I think you missed my meaning.

You're going to pay a dollar in taxes.

They're going to spend that dollar on solar panels.

Then they're going to give you the dollar back.. but how? They've already spent it.

kidenraikou t1_iscgznf wrote on October 14, 2022 at 10:14 PM

Yes. On the solar panels that now power your home. That's them giving it back to you. I'm not sure what the problem is in this situation.

Edit: Genuinely, I think I am confused about your point.