Solar panels for 3-unit rental property??

[Will Mejia]

I had 2 rental properties in Chicago. I sold 1 early this year and did not buy another property because I didn't want to. Hence I will probably pay a good chunk of change to uncle Sam when I file my 2024 taxes. I still have the other property left and I think I will keep it at least for several more years.

I have been doing necessary repairs and upgrades on the property that I still owe including some that I foresee I would've had to do in the near future. I'm hoping some of these EXPENSES will reduce my taxable income for 2024.

I know there are rebates and TAX CREDITS for investing in Solar Panels. I wanted to ask your opinion or if you have any stories about this you might want to share regarding if it'd be worth it or not.
My building has 2 electric meters. One is paid by the tenant whose apartment uses that meter. The other electric meter I pay for because it feeds 2 units (the first floor and basement).

1)Would this be a good investment with worthwhile tax benefits? If not, any obvious alternate investment that I could do on the property to raise it's value, get more rent, or save money that I may be missing?

2)Would this save me money in the long-haul? I pay $135 a month for the first floor and basement. This is "included" in the rent.


Thoughts?