Blue Planet: Renewable Energy Tax Credit Boosts Local Economy

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Blue Planet Foundation released a report Wednesday detailing the economic benefits of Hawaii’s renewable energy tax credit, particularly when it comes to solar:

Findings show that the existing tax incentive yields a clear, significant net fiscal benefit to the state. Every commercial PV tax credit dollar invested yields $13.37 that stays in Hawai‘i and $44.70 in additional sales, which generates $3.17 in new tax revenue. For a typical 118 kW commercial PV installation, the state gains 2.8 local jobs each year over the 30-year lifetime of the system.

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