Hawaii HB513 provides tax credits for installing renewable energy systems, including solar and wind, with specific caps and conditions.

Hawaii HB513 amends the state's tax code to offer tax credits for installing renewable energy systems. For solar energy systems, taxpayers can claim a credit of up to 35% of the actual cost or a cap amount, with specific conditions for systems integrated with pumped hydroelectric energy storage or retrofitted with battery storage. Wind-powered energy systems are eligible for a 20% tax credit. The credit is applicable to taxable years beginning after December 31, 2025. The bill aims to incentivize the adoption of renewable energy technologies in Hawaii.

Hawaii HB513 provides tax credits for installing renewable energy systems, including solar and wind, with specific caps and conditions.

Hawaii HB513 amends the state's tax code to offer tax credits for installing renewable energy systems. For solar energy systems, taxpayers can claim a credit of up to 35% of the actual cost or a cap amount, with specific conditions for systems integrated with pumped hydroelectric energy storage or retrofitted with battery storage. Wind-powered energy systems are eligible for a 20% tax credit. The credit is applicable to taxable years beginning after December 31, 2025. The bill aims to incentivize the adoption of renewable energy technologies in Hawaii.