Solar hot water and photovoltaic installations on your home or business can result in large reductions to your electric bill. There are also federal & state tax credits that offer immense returns. In addition to having free hot water and electricity after the system has paid for itself in reduced utility bills, you & your family or business will be cushioned from future fuel shortages & price increases. You will also be doing your part to reduce our country's dependence on foreign oil.

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Solar hot water systems tax incentives:
   - The current federal tax bill allows a 30% Federal Energy Tax Credit with no cap. Read more...
   - Hawaii allows a 35% state tax credit with a cap of $2250. Read more...
   - Maui Electric offers a $1000 rebate for solar hot water installations and offers financing for the system
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Photovoltaic tax incentives:

Commercial photovoltaic systems:
   - 30% Federal Business Energy Tax Credit
   - 35% State of Hawaii Energy Conservation Tax Credit
   - Federal and State Accelerated Depreciation

Residential photovoltaic systems:
   - The current federal tax bill allows a 30% Federal Energy Tax Credit with no cap starting in 2009
   - Hawaii allows a 35% state tax credit with a $5000 cap. Read more...
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Residential Tax Form Links:

Federal Tax Credit - Form 5695 residential Energy Credits (includes instructions)

State Tax Credit - Form N-334 Renewable Energy Technologies Income Tax Credit
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Commercial Tax Form Links:

Federal Tax Credit - Form 3468 Investment Credit (includes instructions)

State Tax Credit - Form N-334 Renewable Energy Technologies Income Tax Credit
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Federal Accelerated Depreciation

IRS Form 4562 Depreciation and Amortization

State Accelerated Depreciation

Hawaii uses federal Form 4562 (same as above)

Frequently Asked Questions
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