By investing in home improvements, you can save money over the long term and contribute to Hawaii’s clean energy goals. Here are the areas where changes you make can have the greatest impact on your energy bill.
SOLAR WATER HEATING
A solar water heater can reduce your electricity bill by 35%, and with tax breaks and utility rebates, you can recoup your initial costs in two years or less. Learn more about financial incentives:
|Average Cost of a Solar Water Heating System||$6,600+|
|30% Federal Tax Credit ($6,600 x 30%)||($1,980)|
|35% State Tax Credit ($6,600 x 35%)||($2,310)|
|Potential Interest Charges for Financing SWHs||$1,000|
|HI Energy Interest Buy Down Rebate||($1,000)|
|NET SYSTEM COST TO CUSTOMER||$2,310|
Visit Hawaii Energy to apply for state rebates, and view its list of participating lender or solar contractors in order to take advantage of these offerings.
Consider applying for a “green” or home equity loan to install solar panels (also called photovoltaic). Over time, the system can pay for itself through energy savings, profits from selling extra electricity to the utility (called net metering), tax credits, and real estate appreciation.
- Learn more about small solar electric systems on the U.S. Department of Energy’s site.
- Find a solar professional at Solar-Estimate.org.