According to a recent report released by the Hawaiian Electic Company, more solar photovoltaic systems were installed by homeowners and businesses in Hawaii in 3012 than the previous six years combined. Industry experts credit this to huge tax incentives offered by the state government, but have expressed concern that once these credits end, so will the boom in business. Alex Tiller, the Chief Executive Officer for Sunetric, one of the state’s largest PV installers, commented, “We expect continued growth in 2013 for the residential solar business as a sector, but the industry as a whole in Hawaii will slow down dramatically. The sudden change in tax code stranded a number of large-scale projects that have long development cycles and complicated financing structures. These big solar farm deals will likely die on the vine as investors and lenders seek other solar opportunities with less incentive volatility in other markets.”
Source: Honolulu Star Advertiser, 2-5-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
