Cybertruck Federal Solar Tax Credit!?

[DECO]

You can get a 30% Federal Tax credit on the installation and equipment of battery backup on your home. So I will submit my installation cost for the PowerShare system that comes with the Cybertruck. But is anyone considering putting a portion of the Cybertruck cost on there for the battery portion of the backup system (maybe $9200 powerwall battery cost)? Any tax attorney’s out there who might know if you could do that?

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[CyberRich]

Not a tax attorney but that seems legit.

 

[whitewidow252]

I am definitely planning to try this!

 

[Thor]

One of you has to be an accountant or lawyer.. let us know if this is possible.

 

[TwilightHan]

Not legal or tax advice. , I reviewed the IRS rules in detail and it doesn’t state your battery solution cannot be mobile or attached to your house. How do the rich stay rich? By taking advantage of the rules in place.
I bought my CT only to use it as a battery backup as we were without electricity and water for 5 days in a winter storm. It priced out cheaper than power walls, so there you have it. I saved the government money.

 

[Friday]

This thread has earned a rare "Watch" for me. This is intriguing.

 

[getsometom]

Also following, hoping we can all do this.

 

[Friday]

I ran this scenario thru perplexity.ai and it pointed to a 5 month old reddit thread regarding this scenario.

Also, here is its answers to my query:
Would a Cybertruck, which is designed to be a backup battery for V2H power, qualify under the Federal Solar Tax Credit?


Based on the information provided in the search results, it is highly unlikely that a Cybertruck would qualify for the federal solar tax credit (also known as the residential clean energy credit) for use as a backup battery or vehicle-to-home (V2H) power source. Here's why:

1. The tax credit requires the battery system to be "installed in connection with a dwelling unit...and used as a residence by the taxpayer." 3 A Cybertruck, being a vehicle, would likely not meet the "installed" requirement as interpreted by the IRS guidelines.
2. The law specifically excludes batteries that are "primarily used in the transportation of goods or individuals." 3 Since the primary purpose of a Cybertruck is transportation, it would likely be ineligible under this exclusion, even if used secondarily for home backup power.
3. To claim the credit, you would need to allocate the cost specifically to the battery portion of the Cybertruck, not the entire vehicle cost. 3 Determining this allocation could be very difficult given the integrated nature of the battery pack.
4. The IRS instructions emphasize that the credit applies to "solar electric, solar water heating, small wind energy, geothermal heat pump, and fuel cell property costs." 4 A vehicle battery system like the Cybertruck does not appear to fit into any of those qualifying categories.

While Tesla's V2H capabilities with the Cybertruck are innovative, the search results indicate there are significant hurdles to claiming the 30% federal tax credit for using it as a home battery backup system based on the current IRS guidelines and regulations. Dedicated residential battery products like the Tesla Powerwall seem more likely to qualify.124



There may be better ways to prompt and I only used perplexity for search help. Other products may give different results.

 

[fishtek]

So I think you guys are talking about this credit:
https://www.irs.gov/credits-deductions/residential-clean-energy-credit
It sure seems like we could try and get this credit as it seems like CT + powershare would meet the criteria.

However the credit that would certainly be applicable would be this one:
https://www.irs.gov/credits-deductions/alternative-fuel-vehicle-refueling-property-credit

Now I wonder if we can be greedy and have both?

 

[NightOwl]

So I think you guys are talking about this credit:
https://www.irs.gov/credits-deductions/residential-clean-energy-credit
It sure seems like we could try and get this credit as it seems like CT + powershare would meet the criteria.

However the credit that would certainly be applicable would be this one:
https://www.irs.gov/credits-deductions/alternative-fuel-vehicle-refueling-property-credit

Now I wonder if we can be greedy and have both?

Looking at the IRS link for the one that you said (and I thought) would be applicable, it said must be in an eligible low-income census tract. In other words, unless you’re living in a low-income area (or I think a rural area?), you’re not eligible. Bummer.

 

[fishtek]

Ah shoot I think your right...

 

[nevetsyad]

1. Whenever I'm home, I'm using my Cybertruck as a home battery system. When I'm not dwelling in it, I'm not using it as a battery system.

2. My cybertruck will sit at home plugged in to the house for at least 23 hour a day. That seems like it's primary use, the ~5% of it's life when it's used for transport is minor.

3. This just seems wrong. I didn't ask Tesla how much the inverters, cooling system, etc. on the Powerwalls cost to figure out just the cost of the batteries. I got 30% off on all of it, plus transport, install, etc. for it. Same with the Cybertruck and its connection. It just happens to have built in transport costs.

4. AI boned it here and didn't understand that the truck functions like ~10 Powerwall's

I need to ask a tax expert about this. If it fits, I'm buying it at 100K even, for that 30% back!

I ran this scenario thru perplexity.ai and it pointed to a 5 month old reddit thread regarding this scenario.

Also, here is its answers to my query:
Would a Cybertruck, which is designed to be a backup battery for V2H power, qualify under the Federal Solar Tax Credit?


Based on the information provided in the search results, it is highly unlikely that a Cybertruck would qualify for the federal solar tax credit (also known as the residential clean energy credit) for use as a backup battery or vehicle-to-home (V2H) power source. Here's why:

1. The tax credit requires the battery system to be "installed in connection with a dwelling unit...and used as a residence by the taxpayer." 3 A Cybertruck, being a vehicle, would likely not meet the "installed" requirement as interpreted by the IRS guidelines.
2. The law specifically excludes batteries that are "primarily used in the transportation of goods or individuals." 3 Since the primary purpose of a Cybertruck is transportation, it would likely be ineligible under this exclusion, even if used secondarily for home backup power.
3. To claim the credit, you would need to allocate the cost specifically to the battery portion of the Cybertruck, not the entire vehicle cost. 3 Determining this allocation could be very difficult given the integrated nature of the battery pack.
4. The IRS instructions emphasize that the credit applies to "solar electric, solar water heating, small wind energy, geothermal heat pump, and fuel cell property costs." 4 A vehicle battery system like the Cybertruck does not appear to fit into any of those qualifying categories.

While Tesla's V2H capabilities with the Cybertruck are innovative, the search results indicate there are significant hurdles to claiming the 30% federal tax credit for using it as a home battery backup system based on the current IRS guidelines and regulations. Dedicated residential battery products like the Tesla Powerwall seem more likely to qualify.124



There may be better ways to prompt and I only used perplexity for search help. Other products may give different results.

 

[Pops]

It would be nice, but this has been discussed before here and other sites. It seems the general consensus is that this would not fly with the IRS. Look at the bottom of this page and you can see other similar threads.

 

[CyberGus]

I worship my Cybertruck. Therefore, my house is a church. No more taxes ever!

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