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Clear Form FORM N-342 (REV. 2012) Name (FOR SYSTEMS INSTALLED AND PLACED IN SERVICE ON OR AFTER JULY 1, 2009) Note: Use a separate form for each eligible system. Or fiscal year beginning , 2012, and.

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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.

The State tax credit available for the purchase of a commercial PV system is 35% of the installed cost of the system or $500,000 (whichever is less) with unused tax credit dollars rolled forward until exhaustion. Under certain conditions, the state tax credit may be refundable at a reduced rate.

Hawaii state solar tax credit The big draw for going solar in Hawaii (aside from high electricity costs) is the state's Renewable Energy Technologies Income Tax Credit. This generous credit equals 35% of your total system cost, up to a maximum of $5,000 for solar and wind installations.

Hawaii Tax Incentives and Solar Rebates* The 35% state solar tax credit is available for purchased home solar systems in Hawaii. (Max. $5,000 tax reduction.) Eligible renters and low-and moderate-income homeowners in Hawaii can get special on-bill financing for a rooftop solar system.

Renewable Energy Technologies Income Tax Credit (RETITC): This credit gives Hawaii residents an income tax break of 35% on residential solar installations (maximum $5,000). Green Energy Money Saver (GEM$) On-Bill Program: This financing program is available to low- and moderate-income homeowners and renters.

Hawaiians can decrease their energy bills, become energy independent and be more eco-friendly by going solar. In addition, the Hawaii Energy Tax Credit allows individuals to claim an income tax credit of up to 35% (up to $5,000 per 5 kW system) of the cost of equipment and installation of a residential solar system.

For example, if your total system cost is $10,000 and you are eligible for a $4,500 tax credit, then you would only be able to claim $2,500 worth of the credit – or 33% of your total system cost. If you have any leftover credits after applying them against your taxes owed, they will carry over into the next tax year.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232