That's correct. The credit is equal to 30% of your total cost.
To enter your energy credit,
- Open your return, if you don't already have it open.
- In TurboTax, search for energy improvements. (Do not search for "energy credit," as this will take you to the wrong place in the program.)
- Click the "Jump to" link in the search results.
- At the bottom of the Energy-Saving Home Improvements screen, answer Yes and continue. Follow the on-screen instructions.
Installing alternative energy equipment in your home can qualify
you for a credit equal to 30% of your total cost. The
credit is available through the end of 2019. After that, the percentage steps
down each year and then stops at the end of 2021.
- Qualifying equipment includes solar-powered units that generate electricity or heat water. The credit is only available for improvements you make to your residence. This can apply to a second residence as well.
- As a credit, you take the amount directly off your tax payment, rather than as a deduction from your taxable income. Other than the cost of the system, there's no limit to the dollar amount of the credit.
- Click on Solar Energy Systems *