The purpose of this bill is to amend renewable energy technologies income tax credit by increasing maximum available amount of tax credit and applying credit on per-property basis, as designated by tax map key number. • Makes conforming amendments to additional portions of section 235-12.5, HRS, to account for application of renewable energy technologies income tax credit on per-property, as opposed to per-system, basis;
• Increases maximum amount of income tax credit available for various types of properties;
• Specifies tax credit amount of $1,000 per kilowatt for kilowatts of more than 300 through 5,000 kilowatts produced by solar energy system installed and placed in service on nonresidential property;
• Reverts back to current tax credit amount for wind-powered energy systems placed on nonresidential property
By attempting to minimize abuses of Renewable Energy Technologies Income Tax Credit, goes too far by imposing measures that discourage installations of solar water heater, PV and wind systems. This would decrease jobs in renewable energy sector and run counter to State’s clean energy goals.
Hawaii Renewable Energy Alliance, Sierra Club, Solar Energy Industries Association, Blue Planet Foundation, Forest City Hawaii, Hawaii PV Coalition, SunPower Systems Corporation, Kairos Energy Capital, Inter-Island Solar Supply, 45 individuals.
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