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Deductions & credits
NO, not directly. Assuming this is a permanent type of installation that becomes "a physical part of" the property (i.e.; not a portable generator) the cost just gets added to the cost basis of your home. So you won't report this anywhere on your taxes until the tax year you sell or otherwise dispose of the property, or convert it to some type of business use, such as a rental property.
As far as I know, a generator doesn't qualify for any energy credits. See https://www.irs.gov/credits-deductions/energy-efficient-home-improvement-credit for details.
March 2, 2024
11:34 AM