HONOLULU (HI Now) - Hawaii Unified Energy is helping local businesses fight back against skyrocketing energy costs through solar power and long-term savings. Chief Development Officer Ryno Irwin and CEO Drew Mossbarger appeared on Hi Now Daily to clear up a major misconception: while the homeowner solar tax credit closed at the end of last year, commercial tax credits are still available through December 2027. Thanks to recently passed legislation, businesses can now stack a federal dollar-for-dollar tax credit with bonus depreciation, plus a state tax credit and state depreciation, meaning 60 to 90 percent of total solar costs could be covered.
The real-world impact is striking. A Maui business facing a $32,000-a-year electric bill and frequent unplanned outages turned to Hawaii Unified Energy for a solar solution. Even with less favorable tax credits at the time, the system was set to pay for itself in three years. Since then, Hawaii energy rates have climbed 42%, meaning that same business would now face a $44,000-a-year bill without solar. With today’s enhanced bonus depreciation, that system paid for itself in just over two years.
For businesses ready to explore their options, the first step is visiting Pacific Energy Solar’s website. The team will come to your location, review your operations, and analyze your electric bill to map out your savings and return on investment. But act fast, these incentives are set to expire by the end of next year, and permitting timelines mean businesses need to move now to get installed in time. Don’t wait and miss out.
For more information, visit hawaiiunified.com/energy.
You can also follow them on Instagram: @hawaiiunified.
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