HI HB212

Establishes a nonrefundable income tax credit for individuals and corporations that install eligible battery backup systems for solar energy in Hawaii during a taxable year.

Tax credit amount equals a specified percentage of actual installation costs or an applicable cap amount, whichever is less, with separate caps for single-family residential, multi-family residential, and commercial properties.

Defines "battery backup system" as equipment using batteries to store electrical energy from solar systems for use when solar power is unavailable, limited to no more than five kilowatt hours per property.

Allows unused tax credits to carry forward to subsequent years until exhausted, and requires all claims to be filed within twelve months after the close of the taxable year or the credit is waived.

Applies to taxable years beginning after December 31, 2015, and excludes battery backup system costs from the existing renewable energy technology tax credit under section 235-12.5.