The tax credit for solar panel is non-refundable.
This means it is limited to your tax liability.
- If you end up with a bigger credit than you have income tax due—a $3,000 credit on a $2,500 tax bill, for instance—you can't use the credit to get money back from the IRS..
- Instead, generally, you can carry the credit over to the following tax year.
- However, it is not yet clear whether you can carry unused credits to years after the solar credit expires.
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