Tax Credit Changes of Solar System in Hawaii

Go anywhere in Hawaii, and you will find more and more people and businesses are switching to solar power systems. You ask them, and you will get to know that they are fed-up of the rising cost of traditional sources of power, which is slowly becoming less popular in this island state of the United States. Contrary to that, renewable energy is fast setting its foot firmly on the ground and becoming an increasingly valuable resource that both residential and commercial sectors are currently adopting. 

Fact is, solar power systems in Hawaii are fast becoming a smart and cost-effective investment for people across the island.

What makes PV panels so popular in the island state? 

The very first thing is people in Hawaii care for nature and when they are aware of the fact that solar energy is environment-friendly, then do they need another reason to make it their first choice? Due to zero carbon emission, solar panels are worth investing in.

Solar energy is one of the cleanest renewable resources that you get from nature directly. It is also low cost, and since the source of energy is the sun, it is inexhaustible too. Solar power plays a crucial role in contributing to the cause of creating a cleaner, safer and healthier environment with no carbon emission. Implementing solar systems on the entire island will help the island is becoming an environmentally safer and healthier place for future generations.

Hawaii is determined to produce 100% clean energy by 2045. Today, this island state has pledged to lead the world by example when it comes to embracing the renewable sources of energy. The reason the state has decided to introduce incentives, rebates, and tax credit changes to achieve the target it has set for itself in making Hawaii generate 100% renewable energy.

Moreover, the state also helps residents get a part of the total cost of home solar system purchase and installation. It is no more a secret that electricity rates in Hawaii are among the highest in the United States, switching to solar systems is the only good option left for people to choose.

Solar System in Hawaii and Tax Credits Changes

We will discuss some facts here about the incentives, rebates and tax credit changes in Hawaii. The advantage of which can be taken to install clean and green energy source for your home and business purposes.

Income Tax Credit Changes

Whatever is the overall cost of the solar power system you install in your home, if you are doing it for the first time, a professional and licensed installer in Hawaii can cover a good percentage of the cost that your bear, based on what you invest.

Hawaii and US federal government offers tax credits for all new home solar installations. These incentives, rebates and tax credits put together to reduce the overall cost of the installation (include equipment purchase) by almost 61%. But, make sure to avail this service you will have to hire a professional solar company for the purpose.

Federal Solar Tax Credit

Planning to purchase a home solar system? Then do not forget to avail the federal solar tax credit, which is an additional credit you receive from the state of Hawaii solar incentive. Currently, the “Federal Investment Tax Credit” offers 26% credit on equipment purchase and installation costs for solar PV systems. The state has decided to drop this residential credit by 2023. Therefore, if you have plans to go solar for your electricity purposes, then now is the right time.

Pro Solar Hawaii is one of the most reputed companies in Hawaii, offering excellent installation services. You can schedule your installation with them and avail of all the rebates, tax credits and incentives with ease.