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Updated almost 2 years ago,

User Stats

51
Posts
3
Votes
Luke Stone
  • Chicago, IL
3
Votes |
51
Posts

Inflation Reduction Act Solar Panels - What’s Covered?

Luke Stone
  • Chicago, IL
Posted

It is my understanding based on ITC Section 48, rental property owners can now take advantage of tax rebates to install updates. Additionally some of the costs such as updating the electrical panel and trimming trees can be included in the cost under site preparation expenses.


My question is how to what extent is site preparation allowed to be included? I started looking into adding solar to a rental duplex and found out that in addition to a new electrical panels, the utility service equipment also needs to be updated. This includes new electrical meters, new utility lines from the electrical pole and a new electrical pole behind one unit to conform to current codes. Are these additional expenses to update the utility delivery to our property able to be included in the expense for tax rebate purposes?