HI HB2417

Distinguishes solar electricity generating systems from solar energy systems for tax credit purposes.

Establishes tiered tax credits for non-utility scale solar electricity generating systems at 35% of actual costs prior to 2013 tax year, declining 5% annually to reach 20% by 2015 tax year and thereafter.

Creates production-based tax credit for utility scale solar electricity generating systems at 11.5 cents per kilowatt hour for first 120 months of operation, with grandfather provision for projects with Public Utilities Commission-approved contracts prior to end of 2013 tax year.

Increases cap amounts for tax credits on single-family and multi-family residential properties when solar energy systems are used to heat water for household use.

Requires tax filers claiming utility scale solar electricity generating system credits to document each system's annual production and makes non-utility scale credits fully refundable for systems installed during or after 2016 tax year.