HI HB513

Extends Hawaii's renewable energy tax credit to cover existing solar photovoltaic systems that are retrofitted with battery storage, effective for taxable years beginning after December 31, 2025

Allows a tax credit of 35% of actual cost or $500,000, whichever is less, for adding battery storage to existing solar systems

Addresses Hawaii's highest-in-nation electricity rates, averaging over $0.40 per kilowatt-hour, by incentivizing energy independence from the grid

Builds on Hawaii's high rooftop solar adoption rate (approximately one-third of single-family homes) by encouraging battery storage additions to capture and store solar energy