Solar PV systems (solar panels) are eligible for the same Residential Clean Energy Credit. You can claim up to 30% of the costs for solar panel installations. The credit applies to both new and existing homes. Qualified expenses include the costs of solar electric panels and related installation. Many utility companies offer net metering programs. With net metering, any excess electricity generated by your solar panels is fed back into the grid, and you receive credits on your electricity bill. This can significantly reduce your overall energy costs.