Sun shines for solar PV, despite tax credit step-down

Honolulu Star Advertiser reports that solar installations in Hawaii are strong and growing despite the Federal tax credit step-down enacted on January 1st 2020, reducing the ITC from 30% to 26%. With energy prices in the Hawaiian Islands continuing to climb, rooftop solar makes sense for homeowners and businesses. 74% of systems are opting for battery storage which provides backup power during power outages and Marco Mangelsdorf anticipates this to get better with more battery products expected in 2020. With the tax credits and financing available for solar technologies most installations generate savings from day one over what the owner would have been paying to the utility. In the last 11 months permits issued have risen by 46% with solar installers booked out months in advance. The ITC will drop again next year from 26% to 22% in 2021.

Read the full article at https://www.staradvertiser.com/2019/12/30/hawaii-news/sun-shines-for-solar-pv-despite-tax-credit-step-down/