Hawaii SB2326 establishes a tax credit for solar canopy installations on commercial parking lots.

Hawaii SB2326 introduces a tax credit for solar canopy installations on commercial parking lots. This bill aims to incentivize the use of solar canopies, which are structures designed with photovoltaic panels for solar energy generation. The tax credit is equal to 30% of the qualified expenses, up to a maximum of $500,000 per taxpayer. The credit can be applied against the taxpayer's net income tax liability and, if unused, can be carried over to subsequent years.

Hawaii SB2326 establishes a tax credit for solar canopy installations on commercial parking lots.

Hawaii SB2326 introduces a tax credit for solar canopy installations on commercial parking lots. This bill aims to incentivize the use of solar canopies, which are structures designed with photovoltaic panels for solar energy generation. The tax credit is equal to 30% of the qualified expenses, up to a maximum of $500,000 per taxpayer. The credit can be applied against the taxpayer's net income tax liability and, if unused, can be carried over to subsequent years.