Solar Credit?

jamesmiller228 — Tue, 10 Feb 2026 11:25:12 GMT

I had solar panels installed by a company that charges me monthly for these panels. Can I use the total monthly payments for the year toward Solar credit?

Re: Solar Credit?

DoninGA — Sat, 17 Feb 2024 21:42:41 GMT

If installed in 2023 you enter the entire cost plus installation in the Home Energy Credit section of the TurboTax program. Your monthly payments are not reported for this credit. Only your original cost for the panels including the cost of installation.

Re: Solar Credit?

Vanessa A — Sat, 17 Feb 2024 21:47:52 GMT

No. You would use the total amount that you paid for the solar panels and installation on the contract. The interest is not deductible. Because you signed a contract for the payments it is the same as if you actually paid for the entire thing. You will get a 30% credit for the total purchase price. If you do not have enough of a tax liability this year to use the entire credit, you can carry the credit forward for additional years until the credit expires.

The Residential Energy Credit is also a non-refundable credit, however this one can be carried forward to future tax years until this credit goes away which is currently set to happen in 2034

This credit is worth up to 30% of the cost of the equipment, with no maximum limit. The items that fall into this category are as follows:

Geothermal Heat Pumps
Small Wind Turbines
Solar Energy Systems
Fuel Cells
Battery Storage Technology

To enter these credits into TurboTax take the following steps:

Federal
Deductions and Credits
I'll Choose what I work on
Home Energy Credits which is under the "Your Home" category

topic Solar Credit? in Get your taxes done using TurboTax

Solar Credit?

Re: Solar Credit?

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