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alankdebk
Returning Member

Can I deduct the monthly charge for the solar panals on my home. These were installed by the previous owner but we took over the contract when we purchased the home

 
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Cynthiad66
Expert Alumni

Can I deduct the monthly charge for the solar panals on my home. These were installed by the previous owner but we took over the contract when we purchased the home

No.  Your payments are similar to paying your monthly electric bill on your residence which is not a deductible expense.  Most likely, the credit for these panels was deducted in the year they were installed by the owner at that time.

 

When you purchase (not lease) new solar-powered equipment that generates electricity or heats water, or purchase solar power storage equipment, you generally can claim the Residential Clean Energy Credit to lower your tax bill,

 

For additional information on Residential Energy Deduction see this link:  Credit for Residential Solar Energy

 

This link provides additional information from the IRS:   Who Is Eligible to Claim the Credit by IRS

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