Solar advocates support lesser tax credit

Temporary rules that limit the generous incentive have hurt the industry, they say

By Derrick DePledge

POSTED: 01:30 a.m. HST, Feb 06, 2013

~~<p>Environmental and solar-energy interests urged state lawmakers Tuesday to gradually reduce the state's generous solar tax credit and undo the temporary rules imposed by the Abercrombie administration that many believe have undercut the growing solar industry.</p>
<p>Consensus appears to be moving behind legislation to ramp down the state's 35 percent renewable energy tax credit for consumers and businesses over several years, preserve a feature that allows the tax credit to be taken as refundable at a lower rate — a rebate that encourages leasing and lowers the upfront costs of solar installation — and offer a production tax credit for utility-scale projects that spreads the cost to the state over time.</p>
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Environmental and solar-energy interests urged state lawmakers Tuesday to gradually reduce the state's generous solar tax credit and undo the temporary rules imposed by the Abercrombie administration that many believe have undercut the growing solar industry.

Consensus appears to be moving behind legislation to ramp down the state's 35 percent renewable energy tax credit for consumers and businesses over several years, preserve a feature that allows the tax credit to be taken as refundable at a lower rate — a rebate that encourages leasing and lowers the upfront costs of solar installation — and offer a production tax credit for utility-scale projects that spreads the cost to the state over time. Login for more...