@thiyaga11 Thanks for the Question!! You also cannot claim the credit if you bought, but didn’t install the solar system. It must be placed in service during the year, meaning they must be installed and producing electricity. All the expenses associated with it should be claimed in 2023 as well. To claim the Solar Energy Federal Tax credit, you need to complete and attach the IRS Form 5695 to your federal tax return.
https://turbotax.intuit.com/tax-tips/going-green/federal-tax-credit-for-solar-energy/L7s9ZiB4D
What expenses can you claim:
- Solar PV panels or PV cells used to power an attic fan (but not the fan itself)
- Contractor labor costs for onsite preparation, assembly, or original installation, including permitting fees, inspection costs, and developer fees
- Balance-of-system equipment, including wiring, inverters, and mounting equipment
- Energy storage devices that are charged exclusively by the associated solar PV panels, even if the storage is placed in service in a subsequent tax year to when the solar energy system is installed (however, the energy storage devices are still subject to the installation date requirements)
- Sales taxes on eligible expenses
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