Yes, you can combine the battery storage tax credit with the Residential Clean Energy Credit. The Residential Clean Energy Credit, formerly known as the Residential Renewable Energy Property Tax Credit, includes a tax credit for home battery storage systems. This allows homeowners to claim a tax credit of up to 30% for eligible clean energy systems, including battery storage, when installed between 2022 and 2032.
Eligibility Requirements:
- Residence Location: The dwelling unit must be located in the United States and used as a residence by the taxpayer.
- Battery Capacity: Battery systems must have a minimum capacity of 3 kilowatt-hours to qualify.
- System Connection: Battery storage systems can qualify whether they are connected to solar panels or installed as standalone systems.
To claim these credits, you will use IRS Form 5695. It is advisable to consult a tax professional to ensure compliance with all eligibility criteria and tax filing requirements.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/can-i-combine-the-battery-storage-tax-credit-with-the-residential-clean-energy-credit/
