The IRS considers all income to be taxable unless specifically excluded from tax. Assuming they haven't done that here, your only argument would be that you are running a business and the cost of the panels is ordinary and necessary for the business that you are operating. That may be hard to argue as I assume the main purpose of the panels is to generate power for your house, which is not a business activity.
Another issue is the energy credit afforded you by purchasing the panels. The IRS does not normally allow you to deduct the cost of something while at the same time affording you a credit based on the same cost, as that would be considered "double dipping." So to the extent the cost of the panels was used to qualify for an energy credit, you could not also use that cost to reduce the taxability of income generated by the panels.
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