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Solar tax credits achieve multiple public and private goals

By Thomas A. Loudat

POSTED: 01:30 a.m. HST, Jun 26, 2012

~~<p>When discussing Hawaii's solar tax credit, one must first understand that a solar system is an individually owned, operated and distributed power plant that substitutes for a centralized power plant. It substitutes free sunlight for fossil fuels over its 30-year energy generating life.</p>
<p>The state does not &quot;lose&quot; $70 million per year by funding the credit leading to a &quot;revenue shortfall,&quot; as stated in recently published comments. Solar systems return more to the state than the credit monies refunded over their life. Individually, I go from a negative-$1 situation to import fossil fuel for energy, to a plus-$1 situation because I produce my own energy. If local, I spend my energy dollars saved in our economy. Anti-solar commentators also need to address Department of Taxation administrative rules adding to the credit cost in their &quot;shortfall&quot; accounting.</p>
~~

When discussing Hawaii's solar tax credit, one must first understand that a solar system is an individually owned, operated and distributed power plant that substitutes for a centralized power plant. It substitutes free sunlight for fossil fuels over its 30-year energy generating life.

The state does not "lose" $70 million per year by funding the credit leading to a "revenue shortfall," as stated in recently published comments. Solar systems return more to the state than the credit monies refunded over their life. Individually, I go from a negative-$1 situation to import fossil fuel for energy, to a plus-$1 situation because I produce my own energy. If local, I spend my energy dollars saved in our economy. Anti-solar commentators also need to address Department of Taxation administrative rules adding to the credit cost in their "shortfall" accounting. Login for more...



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