HI HB212

Establishes a nonrefundable income tax credit for individuals and corporations that install eligible battery backup systems for solar energy in Hawaii, applicable to taxable years beginning after December 31, 2015.

Credit amount equals 25% of actual installation costs or the applicable cap amount, whichever is less: $10,000 per system for single-family residential property, $250,000 per system for commercial property, and an unspecified amount for multi-family residential property.

Defines "battery backup system" as equipment using batteries to store electrical energy from solar systems for use when solar resources are unavailable, limited to a collective capacity of no more than five kilowatt hours per property.

Allows unused credits to carry forward to subsequent taxable years until exhausted, with all claims required to be filed within 12 months following the close of the taxable year or the right to claim is waived.

Amends the definition of "actual cost" under existing renewable energy tax credits to exclude costs related to battery backup systems, preventing double-crediting.