The commercial solar energy market in Hawaii has turned into a race of sorts, a race for businesses to get their systems in place before a federal tax credit sunsets at the end of 2016.
“Right now for us, we're very busy,” Todd Georgopapakas, partner of Honolulu-based Distributed Energy Partners, told PBN. “I don't think we've ever been busier. Every business that hasn't done solar is getting in line. Our backlog is bigger than it has ever been, and it will only increase as we get closer to 2016 when the federal tax credit ends.”
State and federal tax credits continue to help the commercial photovoltaic market.
The state tax credit, which has no sunset date, is set at 35 percent, while the federal tax credit, which is scheduled to sunset at the end of 2016, is 30 percent.
“It's foolish for businesses to wait longer, and even if folks start now, it's no promise that these projects will get done by the end of 2016,” Georgopapakas said. “The sooner the better before the federal incentive goes away [is what we're telling our prospective customers]. We make them understand that to quickly move forward.”
via Hawaii commercial solar energy market a race to beat the tax credit deadline – Pacific Business News.