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. In addition, there are several incentives available to you that will help make the cost of your solar energy system affordable. There are many solar companies in Hawaii who offer financing to help get you started.
Prices for solar panels in Hawaii can vary depending on many factors. Cost of your solar panel system will vary depending on its size, number of panels and quality. A solar calculator can be used to calculate the cost of your system.
Hawaii residents have the option to take advantage of local and state incentives in addition to the federal tax credit. These incentives can help save you money on your installation of solar panels. The Renewable Energy Technologies Income Tax Credit, (RETITC), can help you get a large credit towards your personal income tax. Hawaii's Property Assessed Clean Energy Program (PACE) can also help you save money on long-term financing.
Depending on the type of panel and equipment you choose, your solar panel cost in Hawaii will range from $20,000 to $13,000. 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. It will increase your total costs, but homeowners who can't pay the full amount upfront can use a HELOC to finance their solar system.
Hawaii is blessed with a lot sunshine. There are 240 sunny days a year for most homeowners in Hawaii. Solar energy is viable because the sun's hours do not change too much throughout each year. Unfortunately, Hawaii has a poor energy infrastructure. Solar power is an attractive option for homeowners because many homes experience power outages.
Honolulu residents can apply to receive a 25-year property exemption on their solar system. Additionally, the City and County of Honolulu offer a real property tax exempt for alternative energy improvements.
Hawaii's solar panel systems will cost homeowners significantly less than the average system. Hawaii's electricity costs are among the most expensive in the United States. It is also a good thing that Hawaii is famous for its sun. The best equipment is what you need to have solar panels installed. You can also ask your neighbors for recommendations, and check out the best solar companies in Hawaii.
The cost of installing solar panels to their home is one of the most common concerns. The cost of solar panels is typically calculated per watt and can vary depending on where you live in Hawaii.