HI HB2291

Replaces the renewable energy technology systems tax credit with separate tax credits for solar energy property, wind energy property, and energy storage property.

Establishes tiered tax credit percentages for solar energy property based on installation date: 35% for water heating systems; 25% (2017-2019), 20% (2020-2022), and 15% (2023+) for electricity-generating systems with higher caps for systems with energy storage.

Sets tax credit caps varying by property type: $2,250 for single-family residential solar water heaters; $5,000-$10,000 for single-family residential solar electricity systems; $500,000 for commercial solar systems.

Allows energy storage property installed separately from solar or wind systems to receive 25% (2017-2019), 20% (2020-2022), or 15% (2023+) tax credits with caps of $10,000 for single-family residential and $500,000 for commercial property.

Adds definitions for "basis," "energy storage property," "first placed in service," and "grid-connected," and clarifies that roof repair costs do not constitute part of the basis for tax credit purposes.