Tesla Powerwall

[ABaker2719]

I have solar power and added two Tesla Powerwall (Solar Batteries) to my system.  Where do I place the costs and installation of the power walls in order to receive the 30% tax credit?  Thanks

[ThomasM125]

It is in the "Deductions and Credits" section, under "Cars and Other things you own" then "Energy efficient charging station."

[Tundra-guy]

Why would the Tesla Powerwall go under cars when it has nothing to do with a vehicle, its a battery pack installed to your home electrical system and if charged via 100% solar it falls under ITC for a 30% credit in 2019? Shouldn't it be in the solar section of the return using Form 5695 Residential Energy Credit?

[DaveF1006 · Accepted solution]

It should not go under cars. It will go into the home energy credit. i don't know where you are entering this but go to:

1. federal>deductions and credits>your home>home energy credits
2. navigate to a page that says Enter Any Additional Energy-Efficient Improvements
3. add it as a Solar Electric cost

[bolgani]

Thank you for that advice, but the result says that the deduction will be for 2024's taxes!! What's up with that? Power Wall was installed spring of 2023.

[MayaD]

The credit is nonrefundable, so the credit amount you receive can't exceed the amount you owe in tax. 

It could be that:

• Your income is at a level that's not taxed at all.
• You're getting other tax credits that have reduced your tax owed to zero.

For more information please check Residential Clean Energy Credit

[Opus 17]

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@bolgani wrote:

Thank you for that advice, but the result says that the deduction will be for 2024's taxes!! What's up with that? Power Wall was installed spring of 2023.

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First, I believe form 5695 is not updated for the new 2023 tax rules.  I think it is scheduled to be ready on January 17, but it could be delayed.

Second, as Maya says, you can only get a refund if you owe income tax.  If you added the energy credit before adding your income, it will show the credit as not available this year.  The program will update itself after you add your income and other tax information.