1. What are the incentives to purchasing Solar Power for my Hawaii home or business?
Investing in Solar energy is easy to do in sunny Hawaii. You and the islands not only benefit from clean, green energy, but from both Federal and Hawaii State Tax incentives too.
The Federal Solar Investment Tax Credit (ITC) allows for a 30% tax credit off of your personal or business taxes. This credit is off of the total cost and installation of equipment and the installed solar system.
Congress has extended ITC tax credit of 30% through 2019, at which point it will fall to:
26% in 2020,
22% in 2021 and
10% in 2022.
Hawaii State offers a 35% tax credit incentive to residential home owners and businesses. For Residents that is a 35% credit (or $5000, which ever is less) of the total system price, off of you personal income taxes. For businesses that is a %35 tax credit (or $500,000, whichever is less, off of business income taxes.
How do i know What solar system is best for me?