2010 Tax FormsForms

PLEASE CONSULT A TAX PROFESSIONAL FOR PROPER IMPLEMENTATION OF THESE FORMS

 

Hawaii State Tax Credits

For photovoltaic systems, the maximum allowable state credits are as follows:

  • Single family residential property is eligible for a credit of 35% of actual cost or $5,000, whichever is less
  • Multi-family residential property is eligible for a credit of 35% of actual cost or $350 per unit, whichever is less
  • Commercial property is eligible for a credit of 35% of the actual cost or $500,000, whichever is less

More information on State solar incentives can be found at the Hawaii Energy Policy.

 

 Federal Solar and Wind Energy Credit (Personal)

Incentive Type: Personal Tax Credit
Eligible Renewable/Other Technologies: Solar Water Heat, Solar Space Heat, Photovoltaics, Wind
Applicable Sectors: Commercial, Residential, Multi-Family Residential
Amount: Solar Thermal and PV: 35%;
Wind: 20%
Maximum Incentive: Varies by technology and property type (see summary for details)
Carryover Provisions: Excess credit may be carried forward until exhausted.
Eligible System Size: Not specified
Equipment/Installation Requirements: System must be new and in compliance with all applicable performance and safety standards.
Web Site: http://www.hawaii.gov/
dbedt/info/energy/renewable/solar
Authority 1: HRS §235-12.5
Date Enacted: 1990, subsequently amended
Date Effective: 7/1/2003
Expiration Date: None
Authority 2: HB 1464
Date Enacted: 6/25/2009
Date Effective: 7/1/2009
Authority 3: SB 464
Date Enacted: 6/25/2009
Date Effective: 7/1/2009

 

Federal Solar and Wind Energy Credit (Corporate)

Incentive Type: Corporate Tax Credit
Eligible Renewable/Other Technologies: Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Photovoltaics, Wind
Applicable Sectors: Commercial, Residential, Multi-Family Residential
Amount: Solar Thermal and PV: 35%;
Wind: 20%
Maximum Incentive: Varies by technology and property type (see summary for details)
Carryover Provisions: Credit may be carried forward until exhausted.
Eligible System Size: Not specified
Equipment/Installation Requirements: System must be new and in compliance with all applicable performance and safety standards.
Web Site: http://www.hawaii.gov/
dbedt/info/energy/renewable/solar
Authority 1: HRS §235-12.5
Date Enacted: 1990, subsequently amended
Date Effective: 7/1/2003
Expiration Date: None
Authority 2: SB 464
Date Enacted: 6/25/2009
Date Effective: 7/1/2009