The credit is available to residential and commercial property owners who install solar panels on their properties.
The ITC allows you to deduct a percentage of the cost of installing a solar energy system from your federal taxes.
To claim the federal solar tax credit, you will need to file IRS Form 5695 “Residential Energy Credits” with your federal tax return. You will also need to provide documentation of the cost of your solar energy system installation, such as receipts, invoices, or contracts.
It’s important to note that the tax credit is based on the date of construction, not the date of installation or when the system becomes operational.