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Hawaii Bill Would Change State Renewable Tax Credit

Tuesday, January 24, 2017 - 9:00AM

Hawaii state Sen. Lorraine Inouye introduced a bill that would replace the state renewable energy technology systems tax credit with tax credits for solar energy property, wind energy property and energy storage property.  SB 665 would apply the tax credit to new systems that capture and convert renewable energy into energy, electricity or fuel. The bill includes a 35 percent credit for solar energy property that heats water, a 25 percent credit for solar that generates electricity, a 25 percent credit for solar that is grid-connected and incorporates an energy storage property, and a 20 percent credit for wind energy property. Each credit has caps for residential and commercial use and each use has a percentage phase-down until the credit sunsets at the end of 2023. 

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