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Hawaii's Solar Tax Credits & Financial Incentives

Hawaii's Solar Tax Credits & Financial Incentives COST OF ELECTRICITY IN HAWAII Hawaii has the highest cost of electricity of any state in the U.S. - over 112% higher than New York, the 2nd highest in the country in 2011. Average Residential Electric Rate for: Hawaii New York California PER kWh $0.40 $0.35 $0.30 $0.25 $0.20 $0.15 $0.10 $0.50 1990 2012 Oct 2012 Kilowatt per hour pricing: 18 kWh Average 2012 residential usage per day based on typical residential electric bill Oahu 33.6¢ $2524.44 Annually per kWh $210.37 Monthly 36.1¢ per kWh Maui $2708.16 Annually $225.68 Monthly Hawaii Island 44.9¢ $3031.56 Annually per kWh $252.63 Monthly COST OF INSTALLATION $5.50 per watt before taxes and incentives. 3-5 years to pay off FREE A Typical photovoltaic system in Hawaii will take 3-5 years to pay off when compared to what you would have paid in utility bills. After that, you get free electricity for the life of the system. The 2012 average cost to install solar electricity Estimates vary based upon differing opinions and formulations. SOLAR PHOTOVOLTAIC INCENTIVES FEDERAL $ PERSONAL TAX CREDIT 30% of solar electric systems - no cap Expires Dec 31, 2016 $ PERSONAL TAX CREDIT If all or part of the system is used as a substitute renewable energy STATE 35% technology for the solar water heating requirement for new residential construction, the credit of the actual cost or $5,000, whichever is less shall be reduced by thirty-five per cent of the actual system cost or No expiration date set $2,250, whichever is less. As of late 2012, PV systems placed on or after January 1, 2013 are defined based on total system output capacity instead of number of connections to the electrical system. * FEED-IN TARIFF (PRODUCTION CREDIT) 21.8 cents per kWh for photovolatic systems less than 20 kW in size. This is energy produced by your home system and exported into the electrical system SOLAR HOT WATER INCENTIVES FEDERAL $ PERSONAL TAX CREDIT 30% of solar hot water systems - no cap Expires Dec 31, 2016 STATE $ PERSONAL TAX CREDIT * STATE REBATE 35% $750 rebate One-time for existing homes (not available for new construction after 2009) of the actual cost or $2,250, whichever is less LOCAL Š HONOLULU SOLAR ROOFS INITIATIVE Low interest loans & UTILITY for income-qualified homeowners on Oahu for the installation of solar hot water systems Š MAUI SOLAR ROOFS INITIATIVE Zero interest loans available SOLAR ATTIC FANS INCENTIVES FEDERAL $ PERSONAL TAX CREDIT 30% of solar electric systems - no cap Expires Dec 31, 2016 STATE $ PERSONAL TAX CREDIT 35% of the actual cost or $2,250, whichever is less LOCAL * STATE REBATE & UTILITY $50-$75 off Alternate Energy SOURCES Renewable Energy For Your Future http://bit.ly/dsire-solar-water-heater-rebate http://bit.ly/dsire-honolulu-solar-roofs http://bit.ly/eia-gov-electricity-industry-report http://bit.ly/hawaii-energy-kwh-per-day http://bit.ly/star-advertiser-october-electric-bills http://bit.ly/honolulu-gov-homeowner-loans http://bit.ly/dsire-federal-renewable-energy-tax-credit http://bit.ly/dsire-maui-solar-roofs http://bit.ly/dsire-hawaii-solar-energy-credit http://bit.ly/dsire-energy-efficiency-rebates http://bit.ly/dsire-feed-in-tariff 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Hawaii's Solar Tax Credits & Financial Incentives

shared by bethanderson on Feb 19
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We've broken down all of the major tax credits and incentives available to Hawaii residents for photovoltaic solar electric systems, solar hot water systems, and solar attic fans, as well as some stat...

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