Hawaii Legislation Ensures 35 Percent ITC for Approved Projects

Tuesday, January 21, 2020 - 9:15am

Legislation introduced in the Hawaii House of Representatives would clarify that a power purchase agreement approved by the state public utilities commission before Dec. 31, 2019, would receive a 35 percent investment tax credit up to the applicable cap amount of $500,000. The text of H.B. 2039 says the purpose of the bill is to assure developers of utility-scale renewable energy projects that any subsequent amendment to state law won’t change their credit amount.