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Tax Season - Installed PV system, have a question about Hawaii RETITC
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Tax season can be a perplexing time, especially when navigating the intricacies of solar tax credits in Hawaii. If you've recently installed a photovoltaic (PV) system, you may be wondering about the Renewable Energy Technologies Income Tax Credit (RETITC). A common belief is that for every 5 kW of solar panels installed, you could qualify for a $5,000 tax credit. For those who installed a larger system, such as a 10 kW setup, the assumption might be that this translates to a $10,000 credit. However, it appears that the maximum available credit may be capped at $5,000. If you have experience with claiming this credit for a larger system, your insights could be invaluable to others navigating similar situations.
Had a PV system installed last year and we are doing our Hawaii taxes. The sales people made it sound like you could get the $5K tax credit per 5Kw solar panel system. We put up 10KW of panels figured we'd get 10K back from the state.
I'm looking at it and it looks like 5K is the max period. Anyone have experience claiming this credit multiple times with a large system?
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