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How do I enter in solar panels?

Here's my situation:
• I installed solar panels for my roof.
• I took a loan to pay for the system.
• The electric company pays me for the electricity I generate
How do I reflect all of this in Quicken? I guess the system is an Asset with a Loan against it, but how do I keep track of how much money this asset is generating?
Thanks in advance :)
• I installed solar panels for my roof.
• I took a loan to pay for the system.
• The electric company pays me for the electricity I generate
How do I reflect all of this in Quicken? I guess the system is an Asset with a Loan against it, but how do I keep track of how much money this asset is generating?
Thanks in advance :)
0
Answers
Yes, the installation of the system would typically be treated as a home improvement. You could set that up as an "addition" to your "Home" asset account, which I think would be preferable, or as a new "asset" (both of which should be in in the Property and Debt" section). And, I also agree that a loan account should be setup in that same section.
As far as the income that is generated (i.e. - the payment from the electric company) you could record that in 2 ways:
a) You can setup an income account - call it "solar panel income" - which would likely be the easiest way to be able to see that number on both a monthly and over-time basis;
b) You could also just apply it against your electricity expense each month - which effectively would offset that monthly utility, and this may be the easier approach, especially if your electric company is handling it this way already (i.e, - they offset your monthly electric bill rather than send you a check each month).
Let me know if you have any followups.
Frankx
[edited for minor typos]
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