If you are a Sunnova customer with a loan/finance agreement on your home solar system or home solar + battery storage system, you may be eligible to claim the home solar tax credit.
Sunnova does not provide tax advice, and this article should not take the place of talking to a qualified tax professional. You may be eligible for a tax credit with the purchase (loan or finance agreement) of a home solar system. To receive the full tax credit, you must have income tax liability at least equal to the value of the tax credit. Additional tax credits may also be available for homeowners in certain states and territories. Sunnova makes no guarantees regarding eligibility for tax benefits.
Before you apply for the tax credit, you will need to figure out if you are eligible. You must have enough tax liability to take advantage of the tax credit. If you can’t use your entire tax credit in the first year, you can roll remaining credits over to future years.
If you are eligible for the tax credit, you will need to complete two forms:
- Form 5695 – Residential Energy Credit
- Add the information from Form 5695 to your Form 1040