topic I had solar panels installed on my house in June of 2024. Is that an expense that I can get credit for? in Deductions & credits

I had solar panels installed on my house in June of 2024. Is that an expense that I can get credit for?

kenpodawg68 — Tue, 17 Feb 2026 19:50:39 GMT

I have a loan for installment of solar panels. Is that loan deductible:

Re: I had solar panels installed on my house in June of 2024. Is that an expense that I can get credit for?

DoninGA — Tue, 17 Feb 2026 19:57:09 GMT

Your total cost for the solar panels, including installation, should have be reported on your 2024 tax return. You do not report your loan payments as the total cost is credited.

You will have to amend the 2024 tax return you filed. The solar panel expense is in the Deductions and Credits section, under Your Home.

To enter Home Energy Credits -

Click on Federal Taxes (Personal using Home and Business)
Click on Deductions and Credit
Click on I'll choose what I work on (if shown)
Under Your Home
On Home Energy Credits, click the start or update button

See this TurboTax support FAQ for amending a prior year tax return - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-change-correct-return-already-filed/L4VjJ9BA2_US_en_US?uid=ld1n99kr

Re: I had solar panels installed on my house in June of 2024. Is that an expense that I can get c...

Vanessa A — Tue, 17 Feb 2026 19:57:44 GMT

Yes, you may be able to claim the residential energy credit for it, but not on your 2025 return. You cannot deduct that on your 2025 return, assuming they were installed and operable in 2024.

The loan is not relevant to the credit. You would use the amount you were charged for the panels. So if you paid $40k for the panels, it does not matter whether it was paid with a loan or cash, the amount you can take a credit based off of is $40k. You cannot include financing fees in the calculations.

In order to claim the credit you would need to Amend Your Return for 2024.

The Residential Energy Credit is 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

This credit can be taken for new construction

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

https://www.energystar.gov/about/federal_tax_credits

Re: I had solar panels installed on my house in June of 2024. Is that an expense that I can get credit for?

Opus 17 — Tue, 17 Feb 2026 20:26:11 GMT

The credit is claimed as of the date the solar system is installed using the full contracted price, even if you did not pay all at once. You need to amend your 2024 return to claim this credit.