Get Form N-334a Rev 2008 Information Statement Concerning Renewable Energy Technologies Income Tax

Hawaii Tax Incentives and Solar Rebates* Qualified homeowners with home solar could be eligible for a tax credit of up to 30% against the cost of the system. The 35% state solar tax credit is available for purchased home solar systems in Hawaii. (Max. $5,000 tax reduction.)

Through the Renewable Energy Technologies Income Tax Credit (RETITC), residents of Hawaii can get a 35% state solar tax credit when purchasing their residential solar system. The maximum credit available through the RETITC is $5,000 per purchaser.

If you're looking to go solar, you may be wondering about the Hawaii Solar Tax Credit. This credit is available to residents of Hawaii and can be used to offset taxes that you owe on your solar power system. The credit is 26% of the cost of your system, which covers both the equipment and installation costs.

Hawaii also offers a “refundable credit” for PV system owners who do not have sufficient state tax liability; the refundable credit is 30% less than the normal tax credit, but state cuts a check directly to the system owner.

Residential Tax Credits Products eligible for federal tax credits include solar panels for electricity, home backup power battery storage (capacity greater than 3 kWh), solar water heating products, and other qualified energy efficiency upgrades.

Renewable Energy Production Tax Credit (PTC) 31, 2021, that satisfy the new wage and apprenticeship requirements will receive an inflation-adjusted credit of 2.6 cents per kilowatt-hour for the first 10 years of electricity generation.