Saturday, June 15, 2024
Hawai'i Free Press

Current Articles | Archives

Monday, November 5, 2012
Solar Photovoltaic Lease is Worse Than a Barrel of Oil
By Selected News Articles @ 10:59 PM :: 5642 Views :: Energy, Environment

Solar Photovoltaic Lease is Worse Than a Barrel of Oil

by Jeff Davis

Over the past few decades, Hawaii’s goal to achieve energy independence through home-grown, renewable energy sources has culminated in a tax credit system designed to offer incentives to make the purchase of solar systems economically attractive for homes and businesses. The local solar industry not only affects the prosperity of the tax coffer by creating jobs, but more importantly, the long-term impact of purchasing less oil from overseas helps to keep money from leaving the state.

In theory, creating energy locally would keep billions of dollars in our economy and benefit everyone. The problem is the well intentioned—and to date immensely successful—attempt to negate the ever-increasing cost of oil has resulted in the solar industry bringing Hawaii back to square one. About 99.9 percent of solar photovoltaic (PV) lease companies in Hawaii are owned by out-of-state investors.

We continue to spend money to import electricity just as if we were purchasing a barrel of oil. In addition, we now have the added, negative impact of renewable energy tax credits that are also leaving the state. It is estimated that these tax credits will add up to $174 million in 2012, according to the Hawaii Department of Business Economic Development and Tourism. The State Council on Revenues expects that number to increase by $90 million in 2013.

The system for solar PV leases and renewable energy tax credits is completely counterproductive to its initial intent. This needs to be addressed because the very people it was meant to benefit—the people of Hawaii—are the very ones who are essentially footing the multi-million dollar bill.

* * * * *

Jeff Davis, The Solar Guy, hosts “Hawaii’s Tomorrow” focusing on politics, energy and sustainability seven days a week from 5-6 p.m. on KGU (760 AM). To learn more, please visit www.HawaiisTomorrow.com.

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii Military History

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Together

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

July 4 in Hawaii

Land and Power in Hawaii

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

MentalIllnessPolicy.org

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Parents Org Hawaii

NFIB Hawaii News

NRA-ILA Hawaii

Obookiah

OHA Lies

Opt Out Today

Patients Rights Council Hawaii

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

RailRipoff.com

Rental by Owner Awareness Assn

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

School Choice in Hawaii

SenatorFong.com

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii