Homeowners In Hawaii Get Windfall With Solar Power

While the federal government has created incentives for going solar, they are but a drip in the bucket compared to incentives being offered in Hawaii.

There is a move afoot to wean ourselves from fossil fuels. The federal government has attempted to promote the use of solar among homeowners through tax credits. The state of California has recently supported this by passing over three billion dollars in similar incentives. Alas, Hawaii has trumped them all, making it foolish not to go with solar power.

Governments are infamous for promoting societal changes via peoples? bank accountants. Do what the government asks and you save money. Fail to do so, and you will spend far more. Hawaii has taken this approach to a new level.

To promote solar use by homeowners, the state has passed some amazing incentives. Homeowners converting their residences to solar get an upfront tax credit of up to $5,000. A tax credit is far more valuable than a tax deduction because it is applied directly to the amount of tax you owe, not your gross income. In this case, going solar more or less wipes out any state tax bill you would have. Talk about motivation!

On top of panel systems, Hawaii has moved to promote thermal and water heating through solar. Those installing solar thermal systems get back 35 percent of the actual cost or $2,500. If you prefer to go with a solar water heating system, the state is forcing utilities to give it to you for free upfront. A small monthly payment is then added to your utility bill until the system is paid off. Given the cost savings of solar water heaters, this essentially means you get the system for free.

Showing that the state is serious about solar, it has offered outrageous tax credits to commercial property owners as well. If a commercial property is converted to solar in Hawaii, the owner can get between $250,000 and $500,000 in tax credits. That is an absolutely huge number.

Obviously, Hawaii is a state with year around sun. Now homeowners can enjoy it at the beach and on their tax return.

Posted by Connie Lou Barnett on December 13, 2008 at 12:00 AM

About Connie Lou Barnett
Connie Lou Barnett is affliated with Home Realty/GMAC Real Estate, which is located in Owensboro, KY. For further assistance please use the contact information located on the right.

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Local Information for Owensboro, KY

Latitude: 37.757748 -- Longitude: -87.11839

ZIP Codes for Owensboro, Kentucky	42301 42302 42303 42304
Area Code for Owensboro, Kentucky	270
Time zone for Owensboro, Kentucky	CST

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Owensboro was first settled in the 1790s by frontiersman William "Bill" Smeathers. The settlement was called Yellow Banks, an allusion to the color of the banks of the Ohio River. In 1817, Yellow Banks was incorporated as a city under the name Owensborough, named after Colonel Abraham Owen (who is also the namesake of Owen County, Kentucky). In 1893, the name was shortened to it's present spelling of Owensboro. Frederick Ames came to Owensboro from Washington, Pennsylvania in 1887. He started the Carriage Woodstock Company to repair horse-drawn carriages, but in 1910 began to manufacture a line of automobiles under the Ames brand name. Ames hired industrialist Vincent Bendix in 1912, and the company became the Ames Motor Car Company. Despite being called the "best $1500" car by a Texas car dealer, production ceased in 1915. -- Source: Wikipedia.com

Kentucky 2000 Census Population Profile Map

	Owensboro	Kentucky	United States
Population	54,067	4,041,769	281,421,906
Median age	37.4	35.9	35.3
Median age for Male	34.9	34.6	34
Median age for Female	39.6	37.1	36.5
Households	22,659	1,590,647	105,480,101
Household population	51,844	3,926,965	273,643,273
Average household size	2.29	2.47	2.59
Families	14,091	1,104,398	71,787,347
Average family size	2.91	2.97	3.14
Housing units	24,302	1,750,927	115,904,641
Occupied units	22,659	1,590,647	105,480,101
Vacant units	1,643	160,280	10,424,540

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Homeowners In Hawaii Get Windfall With Solar Power

Local Information for Owensboro, KY

Latitude: 37.757748 -- Longitude: -87.11839

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