You can claim federal energy storage incentives for a second home under certain conditions. Here are the details:
- Eligibility: Both principal residences and second homes qualify for the Residential Clean Energy Credit, which includes battery storage technology. However, rentals do not qualify.
- Qualifying Conditions: The second home must be located in the United States and used as a residence by you, even if it is not your primary residence. You cannot claim credits if you rent the second home to others.
- Credit Percentage: For battery storage systems installed from 2023 to 2032, you can claim a 30% credit of the total cost. This percentage decreases in subsequent years.
- Application Process: You can claim these credits using IRS Form 5695.
- System Requirements: The battery storage system must have a capacity of at least 3 kilowatt-hours to qualify for the credit.
To clarify the specifics and ensure eligibility, it’s advisable to consult with a tax professional or check the latest guidelines from the IRS or ENERGY STAR websites.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/can-i-claim-federal-energy-storage-incentives-for-a-second-home/
