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Aloha solar!

Many state governments offer incentives, like rebates and tax credits, to invdividuals and businesses who go solar. In some instances, these programs can drastically lower the up-front costs associated with purchasing such a solar energy system. Read here for information on the programs available in Hawaii. Or, for a complete listing of solar energy professionals in your area, visit our Hawaii Solar Directory.

Under the Hawaii Global Warming Solutions Act, Hawaii aims to reduce greenhouse gas emissions to 1990 levels by 2020. To achieve this goal, the state has developed a strong set of financial incentives for solar and other forms renewable energy.

Here's a sample of what's possible: $1,000 to individuals for a solar water heater; Maui County's zero-interest loans;  and upto $500,000 in corporate tax incentives for PV. Read on for details...

Hawaii Solar Rebate Programs
 
Hawaii Electric Company (HECO): Energy $olutions Program

Eligible: 
Solar water heat for residential and commercial sectors

Amount for residential:        
One-time, $1,000 rebate

Amount for commercial:        
$125 per deferred kilowatt, in addition to $0.05 per kWh for retrofit projects and $0.06 per kWh for new construction

Other info:
To be eligible, the system must meet several technical standards and warranty requirements.


Kaua'i Island Utility Cooperative: Energy Wise Program

Eligible: 
Solar water heat for residential and commercial sectors

Amount for residential:        
One-time, $800 rebate

Amount for commercial:        
50% to 80% of equipment costs

Hawaii Tax Incentives

As far as tax breaks go, Hawaii has really taken the initiative. Individual homeowners  can write off upto $5,000 for PV systems, while the corporate figure is $500,000.
 
Solar and Wind Tax Credit

Eligible: 
Photovoltaics, solar thermal electric, solar water heat, solar space heat and wind for residential and commercial applications

Amount for residential:        

PV systems: 35% of project costs, or $5,000, whichever is less

Solar thermal systems: 35% of project cots for solar, or $2,250, whichever is less

Wind: 20%, or $1,500, whichever is less

Amount for commercial:

PV systems: 35% of project costs, or $500,000, whichever is less

Solar thermal systems: 35% of project cots for solar, or $250,00, whichever is less

Wind: 20%, or $500,000, whichever is less

Other info:
Credit may be carried forward to subsequent tax years until exhausted. To be eligible, the system must meet several technical standards and warranty requirements.

Hawaii Grants and Loans for Solar Energy


Honolulu Solar Roofs Initiative Loan Program

This low-interest loan program is made possible by a partnership among Hawaii Electric Company (HECO) and the City and County of Honolulu.

Eligible:    
Residential solar water heat for residents of the Island of Oahu

Rate/terms:          
0% or 2% (depending on income), with a typcial payback of 7 years

Other info:
Maximum loan amount varies


Maui County: Solar Roofs Initiative Loan Program

In 2002, Maui Electric Company (MECO) and the County of Maui launched the Solar Roofs Initiatve to provide zero-interest loans for solar water heat. To date, the County has made available $450,000 in revolving, loanable funds.

Eligible:    
Residential solar water heat for residents of Maui County

Rate/terms:          
0%; repayment terms are based off expected savings

Other info:
The program also offers a $1,000 rebate for applicants who install systems through its approved solar contractors. For get a better idea of what you stand to save, check out the solar loan example provided by MECO.

Hawaii