Two Powerwalls V2 not meeting expectations, why?

[cwied]

I didn’t mean to infer there are any tax credits for batteries alone; they’re almost always bought with solar panels as part of an averall system like yours (since that’s a requirement of the tax credit).

Actually, it turns out that the batteries alone are eligible for the ITC as long as they are installed alongside an existing solar system and charge only from that system. Ref: IRS: Residential storage eligible for ITC when charged by onsite solar

 

[ssq]

Actually, it turns out that the batteries alone are eligible for the ITC as long as they are installed alongside an existing solar system and charge only from that system. Ref: IRS: Residential storage eligible for ITC when charged by onsite solar

Thanks for sharing this @cwied.
I'm getting powerwalls via referral but I will end up paying $2500 out of pocket for the install. Any thoughts on whether the installation cost (invoiced) will be eligible for ITC? Secondly, Tesla will issue a W9 for the value of the powerwalls, I believe those can be tax exempt under IRS limits for gifts? My apologies for asking these tax related questions here, I will check with my CPA too, asking here in case folks have some quick insights to share from their experience. Thanks a bunch!

 

[cwied]

I suspect you could claim the tax credit on the Powerwall installation if you have a solar system, but you should check with an expert to be sure.

On the referral gift, you will be getting a 1099 not a W9. The W9 is the form you give Tesla so they have your tax information to file the 1099 with the IRS. The Powerwalls are an award from Tesla, not a "gift," so they count as taxable income, unfortunately.

 

[Kbra]

You can try -- don't tell Telsa and if you're not taking the ITC rebate -- to redo the installation wizard and set it up as standalone battery (no solar). Then it would charge entirely from the grid and make it more worthwhile? Has anybody else successfully done this?

I've been getting bids to install solar outside my whole home backup (2 PWs) so that 100% of solar goes to the grid for net meter and the powerwalls run my house during part peak and peak hours. Some say they will do it and thus the Powerwall gateway will never know if its using grid or solar. The concept being i send all power to the grid at higher costs and collect it back at off peak rates to run the house and recharge batteries. The main downside to this approach being that if the grid goes down my solar will too since the inverter will go dead being outside the battery back up.

That said i think this is what the newish feature "Advanced | Time-Based Control (Cost Saving)" is supposed to do and i can achieve the same result if i install solar with the backed up loads.