H.B. 307 Summary

• Broadens the definition of "renewable energy" in Hawaii's public utilities commission law to include a tenth category: "other self-replenishing non-fossil fuel, non-nuclear resources, as approved by rule or order of the public utilities commission."

• Expands the renewable energy technologies income tax credit to include commercial seawater air conditioning systems connected to district cooling systems, allowing a 20 percent credit on basis costs up to $100,000.

• Restructures solar energy system tax credits with tiered rates: 35 percent for water-heating systems and grid-connected solar placed in service before January 1, 2024; 20 percent for grid-connected solar placed in service from January 1, 2024 through December 31, 2028.

• Establishes new caps for solar and wind energy systems based on property type (single-family residential, multi-family residential, and commercial) and implements minimum output capacity requirements ranging from 5 kilowatts to 1,000 kilowatts depending on system type and property category.

• Sunsets the renewable energy technologies income tax credit after December 31, 2028, with an effective date of July 1, 2050.