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Hawaii Solar Tax Rebate Incentives

Hawaii is known for its sun, so it's totally appropriate the they have initiatives encouraging residents and businesses to go solar.

Hawaii's PV solar tax rebates are simple and in line with what is offered in many other states. While a tax rebate is not the same as cash in your pocket, it can make a BIG difference come April 14th. Residential consumers can claim up to 35% of the cost of their install on their state taxes in addition to claiming 30% of the cost on their federal taxes. The tax rebate maxes out at $5,000. Also if you make less than $20k/year (or $40k for a family) you can claim the entire cost.

Commercial properties are eligible for the same 35% tax rebate up to $500,000. Multifamily properties are, again, eligible for the 35% or $350/unit.

Hawaii is also one of the only state that has what is called a cash “feed-in” tariff. This means that if you produce more energy than you use, the utility company has to pay YOU for that extra electricity.

The solar installer you choose to work with will help you understand what you will need to do to file your state and federal taxes in order to receive the rebates. With the cost of energy continuing to rise, many people are turning to solar as a way to ensure the future of the beautiful state of Hawaii.

If you are considering installing a PV solar system on your home, but are unsure of the finances, you may want to check out the Honolulu Million Solar Roofs Program. The County of Honolulu in conjuncture with HECO offers 0-2% low-interest loans (up to $80,000) to qualified homeowners in the County of Honolulu.

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