Yes. The depreciable basis of your solar equipment is equal to its original cost less 50% of the investment tax credit claimed. For example: If your investment in solar equipment is $100,000 in 2020, then the depreciable basis of your solar equipment is $87,000 (($100,000 original cost minus ($26,000 ITC x 50%). Solar equipment is depreciated using 5 years MACRS and, for 2020, is eligible for “bonus” depreciation. Bonus depreciation means you can 100% deduct the depreciable basis of your solar equipment in 2020. Assuming you are in the top individual income tax bracket of 37% for 2020, the federal income tax benefit from $87,000 of bonus depreciation would be $32,190 ($87,000 x 37%).