Solar saving money in Hawaii and for Hawaii
Renewable electricity has a lot of advantages going for it, particularly when it comes to environmental friendliness.
A new report from the Blue Planet Foundation found that at least for Hawaii, one of the big benefits is actually a boost in state tax revenue along with major savings on residents' electricity bills.
With Hawaii offering generous subsidies for homeowners who want to add a solar power installation, it has been clear for some time that solar energy can save residents money, since the state suffers from the highest electricity rates in the country but has some of the sunniest skies.
But the Honolulu Civil Beat reports that some politicians have tried to argue against these solar subsidies on the basis that the state needs the money for other pressing concerns.
However, the new report suggests that for every $1 spent on solar tax credits, the state earns another $3.17 in taxes, not to mention another $13.37 stays in the state as opposed to going to oil companies located abroad or on the mainland.
"The basis of the argument about needing the money for school buses — that was the genesis of doing this report," said the Blue Planet Foundation's executive director, Jeff Mikulina, according to the news sources. "If we are serious about school buses and Medicaid then let’s support the solar industry because that is going to yield more money in the state budget."