What to do with my stimulus money

jjackstone · 02-24-21, 02:13 AM

I guess everyone reading this knows that those of us here in the States are getting stimulus money from our government due to the Covid-19 disaster. We have currently received $1800 from the first two rounds and if the third check of $1400 comes through then that will take the total up to $3200.

I've been watching reviews on Youtube of a LiFePo4 280 Ahr battery that is pretty inexpensive and appears to match its capacity claims pretty closely. At least three different reviewers have tested these packs and they all came back with good results at right around 280 Ahrs. In quantity these are currently selling for approximately $125/kwh shipped and taxed. These are Eve batteries and can be ordered on Alibaba.

So maybe it is time to upgrade my battery backup to around 40kwh. That puts the cost at $5000. Not bad at that price but the way I look at it it's even better since Uncle Sam is buying most of it for me. I can use the $3200 and add another $1800 to make the $5000. But then, there is the 30% tax credit that should come back into play this year if it can get through congress. So 30% of $5000 is $1500 that should be taken off my taxes. if I get the $1500 back, add that to the $3200 the government gave me in stimulus money then they will have paid $4700 for my battery pack and I will only have $300 out of pocket. I haven't checked yet to see if the state also has a solar based tax credit that includes storage. So it is feasible that I can actually get paid to buy a battery storage system. I know some of you will say but you could have spent the $3200 on something else. But I don't need anything else so the money will likely go to the batteries.

JJ

pinballlooking · 02-24-21, 09:52 AM

That would be a good use for it.

02-24-21, 02:13 AM	#1
jjackstone Helper EcoRenovator Join Date: Mar 2009 Location: Sacramento,Ca Posts: 88 Thanks: 5 Thanked 32 Times in 23 Posts	What to do with my stimulus money I guess everyone reading this knows that those of us here in the States are getting stimulus money from our government due to the Covid-19 disaster. We have currently received $1800 from the first two rounds and if the third check of $1400 comes through then that will take the total up to $3200. I've been watching reviews on Youtube of a LiFePo4 280 Ahr battery that is pretty inexpensive and appears to match its capacity claims pretty closely. At least three different reviewers have tested these packs and they all came back with good results at right around 280 Ahrs. In quantity these are currently selling for approximately $125/kwh shipped and taxed. These are Eve batteries and can be ordered on Alibaba. So maybe it is time to upgrade my battery backup to around 40kwh. That puts the cost at $5000. Not bad at that price but the way I look at it it's even better since Uncle Sam is buying most of it for me. I can use the $3200 and add another $1800 to make the $5000. But then, there is the 30% tax credit that should come back into play this year if it can get through congress. So 30% of $5000 is $1500 that should be taken off my taxes. if I get the $1500 back, add that to the $3200 the government gave me in stimulus money then they will have paid $4700 for my battery pack and I will only have $300 out of pocket. I haven't checked yet to see if the state also has a solar based tax credit that includes storage. So it is feasible that I can actually get paid to buy a battery storage system. I know some of you will say but you could have spent the $3200 on something else. But I don't need anything else so the money will likely go to the batteries. JJ

02-24-21, 09:52 AM	#2
pinballlooking Super Moderator Join Date: Jun 2013 Location: SC Posts: 2,923 Thanks: 172 Thanked 564 Times in 463 Posts	That would be a good use for it. __________________ Current project Aquaponics system , Passive Solar Greenhouse build To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts. Solar Install 12.5 Kwh- To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts. Mini Split installs - To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts. EV Chevy Volt - To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts.