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Phil_19
New Member

solar tax credit for expanding an existing system under the inflation reduction act

I installed and put into service a solar energy system on my residence in 2019. I took the 30% tax credit in 2019. I am now expanding my solar energy system and it will go into service in 2023 or 2024. Can I get the 30% tax credit for the cost of the expansion? And, can I spread the credit over several years?

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solar tax credit for expanding an existing system under the inflation reduction act

Can I get the 30% tax credit for the cost of the expansion?  Yes ... there is nothing to stop you. 

 

And, can I spread the credit over several years?  Yes ... if you cannot use the entire credit in the year the system is placed in service then the unused portion of the credit is automatically carried forward. 

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2 Replies

solar tax credit for expanding an existing system under the inflation reduction act

solar tax credit for expanding an existing system under the inflation reduction act

Can I get the 30% tax credit for the cost of the expansion?  Yes ... there is nothing to stop you. 

 

And, can I spread the credit over several years?  Yes ... if you cannot use the entire credit in the year the system is placed in service then the unused portion of the credit is automatically carried forward. 

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