Solar tax credit provides revenue benefits to everyone

By Leslie Cole-Brooks

POSTED: 01:30 a.m. HST, Jun 13, 2012

~~<p>Recent assertions that the Hawaii solar tax credit is bad social policy that exchanges public funds for private benefit with no public gain couldn't be more off base — and they collapse when faced with the facts.</p>
<p>First, rather than wasting money, the solar tax credit generates income for the state that stays in Hawaii. Last year, the solar industry accounted for approximately 17 percent of the overall construction market in Hawaii. This work translates into real revenues that benefit everyone, revenues that more than double the initial investment of the tax credit. Proponents of big oil might argue that the work would have happened anyway, but numerous studies show that tax incentives and credits create work. When they disappear, so does the work.</p>
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Recent assertions that the Hawaii solar tax credit is bad social policy that exchanges public funds for private benefit with no public gain couldn't be more off base — and they collapse when faced with the facts.

First, rather than wasting money, the solar tax credit generates income for the state that stays in Hawaii. Last year, the solar industry accounted for approximately 17 percent of the overall construction market in Hawaii. This work translates into real revenues that benefit everyone, revenues that more than double the initial investment of the tax credit. Proponents of big oil might argue that the work would have happened anyway, but numerous studies show that tax incentives and credits create work. When they disappear, so does the work. Login for more...