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Hawaii solar panel cost

Cost of Solar Panels in Hawaii

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The cost of solar panels in Hawaii has been steadily decreasing over the past few years, and this is great news for homeowners looking to go green. In fact, many of the state’s leading solar installers are now offering some of the lowest prices on solar energy systems in the country.

 

When it comes to solar panel installation, Hawaii is one of the best places to be. The state receives an abundance of sunshine year-round, making it ideal for generating electricity through photovoltaic (PV) cells. Plus, there are plenty of incentives available that can help make installing a PV system even more affordable. Let’s take a look at the cost of solar panels in Hawaii and what you need to know before investing in a home solar energy system.

 

First, let’s talk about up-front costs. The cost of a PV system depends largely on its size, complexity, and other components like batteries or inverters that might be needed for specific projects. Generally speaking, however, Hawaiian homeowners can expect to pay between $10,000 and $25,000 for their setup – including equipment, permits and labor. Of course, discounts from installers could lower this figure considerably depending on the installer chosen and any special promotions they might be running at the time. 

 

In addition to up-front costs associated with installation and setup fees, there are also ongoing maintenance expenses that should be taken into consideration when planning for your PV system’s long-term operation. For example, most residential systems require a monthly monitoring fee which covers things like repairs if something goes wrong with your system or annual servicing/tune-ups that keep your storage battery performing optimally over time. You’ll also want to factor in periodic replacements and upgrades as technology advances over time – such as improvements made to batteries or inverters or when new panels become available that offer better efficiency than what you have currently installed on your roof

 

Fortunately, buyers in Hawaii don’t just have high up-front costs to worry about when purchasing a residential PV system – there are plenty of incentives available at both federal and local levels that can help reduce some of these expenses considerably as well as provide additional savings over time via tax credits or net metering programs where excess electricity generated is sent back into the grid for credit against future electric bills from utility providers . Federal tax credits allow customers who purchase qualifying PV systems up to 35% off their total costs while certain states like Hawaii also offer additional credits or rebates depending on their individual requirements at any given time (so it pays to look around). On top of all this , Hawaii offers residential customers net metering rates which pays them for surplus energy produced by their rooftop arrays – meaning customers who generate more electricity than they use can sell their excess power back into the grid which helps cover remaining bills each month until it is all paid off! 

 

Solar Panel Cost Per Watt in Hawaii

 

In Hawaii, the average cost for solar panel systems hovers around \$3.00 per watt installed. In Hawaii solar panel price per watt, this number includes all equipment and installation costs associated with getting your system up and running—which includes everything from mounting brackets and wiring materials to labor fees. However, actual costs can range widely depending on a range of factors such as your geographic location within Hawaii (since some areas have higher electricity costs than others) and the size of your system (larger systems tend to cost more). Additionally, pricing may also vary slightly between different vendors who offer installation services. 

 

In terms of what you get for that money, each watt in a solar panel system generates about 4-4.5 kWhs per year—and the number increases if you purchase high-efficiency panels or use other strategies like tracking mounts which automatically reposition the panels throughout the day so they’re always facing towards the sun for maximum efficiency. 

 

Another important fact to consider when comparing different solar options is how various government incentives factor into total costs. In Hawaii, state tax credits are available for both residential and commercial installations which can significantly reduce overall expenses by anywhere from 30-70%. There are also Federal Investment Tax Credits (ITC) available nationwide which cover 26% of your total install cost when paired with your local state tax credit. On top of these incentives there may be additional local rebates available as well so it pays to do some research ahead of time before settling on a vendor or plan. 



Hawaii also has other policies in place that make investing in solar power more attractive compared to other renewable sources such as wind turbines or geothermal energy plants. In 2015, Hawaiian Electric Company (HECO), the major utility provider on Oahu, launched its Self-Supply program allowing commercial customers to install solar systems up to 1 megawatt (MW). By doing so they can offset some or all of their electric consumption with locally generated clean energy at lower costs than purchasing traditional grid electricity. 

 

The State of Hawaii also offers additional assistance programs such as rebates for residential PV installations4 which further reduce the total cost of ownership when installing a new system or replacing an existing one. Other options such as net metering allow customers with private PV systems to send excess electricity back into the grid and get credited for it making it easier for them to meet their own consumption goals while helping keep grid rates low at times when demand is high due to peak usage times during summer months or periods where winds are low affecting other renewable sources such as wind turbines or geothermal plants. 



Overall , installing a PV array in Hawaii is an excellent investment opportunity because not only do residents enjoy sunny weather year round which allows them to generate energy efficiently but they also benefit from attractive incentive programs designed specifically with home owners in mind ! With all these incentives combined , along with constantly improving technology , now really is the best time ever for Hawaiian residents looking to take advantage of solar energy systems – so get started today !