Deductions & credits

Thanks for the reply, my question was not so much about the deduction of the cost of the panels. It was specifically regarding the SREC contractual check that is received as a result of the electricity the panels generate. Should this be considered reportable income? 

I have researched this quite a bit and found conflicting answers. It is true IRS does not specifically state anything on this topic. My thought is how can it be income of the check is significantly less than the cost of the panels? According to the entity that provided the check, it should not be considered income so long as the check received does not exceed the cost of the panels...as stated in my original question. Sounds logical to me. Then why are so many "experts" stating it is income even if there was no profit made?