Hawaii Solar Tax Credit Changes and More

Hawaii is committed to 100% clean energy by 2045. So, the future of solar energy in this big island of the United States is brighter. Thanks to the state policies introduced for its citizens, keeping their benefits in view. The solar tax credits, incentives and rebates, are very beneficial for the households to recover a part of the expenses they make in their home solar system purchase and installation. Moreover, with the pace, the rate of electricity produced from coal and oil is increasing, people are finding solar-powered systems as a boon that is helping them not only in adopting environmentally-friendly energy but also in saving a huge part of their income. 

Federal Solar Tax Credit  

It is 26% of the overall cost of the system that covers the cost of both the devices and installation. Ensure you hire an authorized company with a proper state license for the installation job. You won’t get this tax credit if you hire an unauthorized company. 

Right now, the value of the tax credit is 26%, and it will be 22% in 2021. After 2021, the tax credit for residential solar will come to an end. Therefore, this is the right time to get your home equipped with solar-powered systems for electricity. 

Renewable Energy Technologies Income Tax Credit

You get about $5000 of your total solar installation cost based on the overall cost of your system, covered by Hawaii’s Renewable Energy Technologies Income Tax Credit. You can avail this amount as a tax credit, and also opt for a little lesser amount as a tax refund.

Property Tax Exemption for Residential Solar Systems

If you are a homeowner, you know how important property tax exemptions are for you. Therefore, it is a welcome call by the state to offer a tax exemption for residential solar systems in Hawaii. You can avail the exemption connected to your new solar installation for 25 years. Furthermore, a few years later, the value of the system will increase of up to $15,000 on average, adding more price to your property if you decide to sell it. 

How Pro Solar Hawaii Helps You in Solar-Powered System Installation?

Hawaii is a gifted land when it comes to sunlight resources that help in giving you round the clock access to solar energy. Prosolar Hawaii is one of the leading solar energy company in Hawaii that is helping all residential, commercial and industrial sector adopt to solar-powered systems efficiently. The company is authorized by the government for solar projects and has got all necessary license to take up all levels of solar installations. 

Understanding the diverse financial status of people and companies, it has designed flexible programs to cater to all its clients conveniently without any hassle or financial pressure. You get a guarantee of equipment and installation, along with 24/7 monitoring, repairs and parts replacement when you need them. Let us know whenever you are ready to move to solar power, and Prosolar Hawaii will ensure the best services to you.