It is a wise decision to install a solar energy system in Hawaii for your home. It will reduce your monthly energy costs, increase the property's value and protect you from rising electricity utility rates. A number of incentives are available that will make your solar energy system more affordable. You can also find several solar companies in Hawaii that offer financing to help you get started.
Solar panel prices in Hawaii vary widely depending on several factors. The cost of your system will be affected by the size and quality of the panels as well as the number of them. The cost of your system can also be calculated using a solar calculator.
Hawaii residents are eligible for state and local incentives, in addition to the federal solar tax credits. These incentives can save you a lot on your solar panel installation. The Renewable Energy Technologies Income Tax Credit, (RETITC), can help you get a large credit towards your personal income tax. The Property Assessed Clean Energy program in Hawaii (PACE), which can lower your long-term financing charges, can also be used.
Depending on the panel type and equipment, your Hawaii solar panel cost will be between $20,000-$13,000 depending on what you choose. Although this is a higher price than the average national cost, it is still very reasonable. If you don't have the funds to pay for your solar panel in full, you can finance your system with a HELOC for about $20,000. The interest you pay will increase your total cost, but it is a good option for homeowners who can't afford to pay for their system out of pocket.
Hawaii has lots of sunshine. Most homeowners in the state can enjoy 240 days of sunshine each year. Residents have the option of solar energy because the hours of sunlight don't change much throughout the year. There are however issues with Hawaii's electricity infrastructure. Many homes are experiencing power disruptions, so solar energy is an appealing option.
You can apply for a 25 year property tax exemption for your solar system if you live in Honolulu. For alternative energy improvements, the City and County of Honolulu provides a real tax exemption.
Hawaii home-owners will find that the cost of solar panels is significantly lower than those in other states. Hawaii's electricity costs are among the most expensive in the United States. But, Hawaii is well-known for its sunny weather. You need to find the right company for you if you are thinking about installing solar panels. Consider asking your neighbors for recommendations. Then, you can search the best solar companies on Hawaii.
One of the biggest concerns that home owners have about installing solar panels on their homes is the cost. The price of solar panels on your home is usually calculated per watt. It can vary depending on where in Hawaii you live.