There are some pretty hot tax incentives to install solar energy systems. Solar electric systems and solar hot water systems both qualify for a 30% federal tax credit. In Hawaii, which has the highest cost of electricity of any state, residents can also enjoy a 35% state tax credit. That means the price of installation for either system can be paid off in just 3-5 years, as opposed to over a decade in other states.
Check out the infographic below for a complete review of Hawaii’s solar tax credits and financial incentives.
JDKatz, P.C. is a full-service law firm focused on tax law and estate planning. We are dedicated to minimizing your existing liability and risks while providing valuable tax planning to streamline your tax issues in the future. Please call us at 301-913-2948 to schedule an appointment to meet with one of our trusted attorneys.
- Walmart’s Hawaii Solar Play: Be Green, Save Green (earthtechling.com)
- Hawaii Energy raises rebate for installing solar hot water heating systems (bizjournals.com)
- Hawaii lawmakers may decrease solar tax credits (sfgate.com)