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Eligibility for residential properties:
If you are installing energy storage on a residential property, it is eligible for a credit under the ITC – as long as the battery is only charged by an on-site renewable energy system like solar.
If you don't have solar panels, and plan on charging the battery with electricity from the grid, it isn't eligible for the 26 percent solar tax credit.
Eligibility for commercial properties:
If you are installing energy storage on a commercial property, it is eligible for a credit under the ITC as long as the battery is charged by a renewable energy system more than 75 percent of the time.
Eligibility for commercial properties:
If you are installing energy storage on a commercial property, it is eligible for a credit under the ITC as long as the battery is charged by a renewable energy system more than 75 percent of the time.
The exact value of the federal tax credit for batteries depends on how frequently the battery is charged by a renewable energy system.
To claim the full value, the battery needs to be charged by renewable energy 100 percent of the time.
Otherwise, the credit is based on the portion of renewable energy it receives.
2020-2022: Owners of new residential and commercial solar can deduct 26 percent of the cost of the system from their taxes.
2023: Owners of new residential and commercial solar can deduct 22 percent of the cost of the system from their taxes.
2024: Owners of new commercial solar energy systems can deduct 10 percent of the cost of the system from their taxes. There is no federal credit for residential solar energy systems.
More Tax Credits & Rebates from the Database for Incentives & Renewables.
Details on The Bank (Solar Generator & Storage Device)