HI SB11

Amends Hawaii's renewable energy tax credit system to replace fixed dollar caps with percentage-based credits on the basis of solar and wind energy property, with rates declining over time from 30% (2013-2014) to 10% (2018 and later) for solar property and 20% for wind property.

Establishes new categories for utility-scale solar facilities, including "ordinary" facilities and "competitively-bid" facilities, with credits calculated at 11.5 cents per kilowatt hour and 5.75 cents per kilowatt hour respectively for facilities placed in service through December 31, 2019.

Allows taxpayers to claim credits for solar energy property based on kilowatt hours produced (11.5 cents per kilowatt hour through 2019) when no credit is claimed under the standard basis method, requiring installation of metering equipment accurate to within 2% of actual system output.

Removes the definition of "renewable energy technology system" and associated old credit provisions, clarifying that solar energy property installed to comply with section 196-6.5 requirements is ineligible for tax credits.

Requires the Department of Business, Economic Development, and Tourism to conduct a 2017 study evaluating the effectiveness of renewable energy tax credits in achieving state renewable energy goals and report findings to the legislature by 2018.