Solar Panels Cost 2.9k-14k in Waihee-Waiehu CDP, HI | November, 2024

Solar Panels Cost $2.9k-$14k in Waihee-Waiehu CDP, HI | November, 2024

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How much do solar panels cost in Waihee-Waiehu CDP, HI in 2024?

To get solar panels installed costs approximately $4.22 per watt in Waihee-Waiehu CDP, HI in the month of November, 2024.

This means that, for every 1000 watts (or 1 Kw) your system can generate you will spend $4,220 to get your system installed in . When you subtract the 30% federal tax credit, you can expect to pay around $14,770, in Waihee-Waiehu CDP, for a 5 kW system. However, a 5kW system may not be large enough to fulfill your energy demands.

On the left-hand side, you can pick your county to determine the average roof size and the maximum capacity for solar panel systems in residences in your area. Below is a full breakdown of the price, payback period, and 20-year average savings for a 5 kW system installed in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Waihee-Waiehu CDP: $14,770US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Waihee-Waiehu CDP: 6 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Waihee-Waiehu CDP: $28,186US Average: $16,169

Solar Potential in Waihee-Waiehu CDP

Estimated system size and solar electricity production per median viable roof in
Waihee-Waiehu CDP.

Roof size 1,144sq. ft.
Capacity 16kW DC
Electricity 24.1kkWh AC per yr.

Electricity Costs in Waihee-Waiehu CDP, HI & What that Means for Your Solar Panel Pricing

Energy consumers in Waihee-Waiehu CDP usually use 460 kWh per month, with an average monthly bill of $205.36. Compact dwellings, such as townhouses and condos, are also included in the statistics mentioned in the previous sentence.

In November 2024, Waihee-Waiehu CDP, HI's mean electricity rate is 44.65¢ per kWh.

In Waihee-Waiehu CDP, a typical electricity consumer's requirements should be entirely covered by a solar system of 4 kW or more. Presently, a 4 kW solar installation will cost approximately $16,880 before incentives, but the federal tax credit will give you back 30%, lowering the cost to $11,816.

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Average solar panel costs by system size in Waihee-Waiehu CDP

On your left, we present a comprehensive cost analysis for multiple solar panel system sizes set up in Waihee-Waiehu CDP. As expected, a more extensive solar system requires a higher upfront cost, but it also leads to greater electricity savings and higher income tax credits.

Refer to the solar panel cost calculator to the right and below to see the cost and benefit details calculated from an average $205.36 electric bill in Waihee-Waiehu CDP. Simply replace the $205.36 with your typical electricity bill amount to see customized results.

System Size 1kW
Roof Size Min. space required
72 ft²
Electricity Value Annual Production $691 a year
Est. Price
$2,954
Savings from a 1kWthis system
  • Est. yearly production 1,535 kWh
  • Est. monthly savings $58
  • Full payback in 1 years
Environmental Impacts
  • Reduces CO2 emissions by 1.13 tons a year
  • Equivalent to planting 52 trees a year
  • Equivalent to driving 2,802 mi less a year
System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $1,382 a year
Est. Price
$5,908
Savings from a 2kWthis system
  • Est. yearly production 3,071 kWh
  • Est. monthly savings $115
  • Full payback in 2 years
Environmental Impacts
  • Reduces CO2 emissions by 2.26 tons a year
  • Equivalent to planting 104 trees a year
  • Equivalent to driving 5,604 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $2,073 a year
Est. Price
$8,862
Savings from a 3kWthis system
  • Est. yearly production 4,606 kWh
  • Est. monthly savings $173
  • Full payback in 4 years
Environmental Impacts
  • Reduces CO2 emissions by 3.4 tons a year
  • Equivalent to planting 156 trees a year
  • Equivalent to driving 8,406 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $2,764 a year
Est. Price
$11,816
Savings from a 4kWthis system
  • Est. yearly production 6,141 kWh
  • Est. monthly savings $205
  • Full payback in 5 years
Environmental Impacts
  • Reduces CO2 emissions by 4.03 tons a year
  • Equivalent to planting 185 trees a year
  • Equivalent to driving 9,976 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $3,455 a year
Est. Price
$14,770
Savings from a 5kWthis system
  • Est. yearly production 7,677 kWh
  • Est. monthly savings $205
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 4.03 tons a year
  • Equivalent to planting 185 trees a year
  • Equivalent to driving 9,976 mi less a year

Waihee-Waiehu CDP Solar Panel Installation Incentives & Rebates | 2024

Rural farmers and small business owners could have between 80% and 100% of their solar energy or wind turbine installation expenses covered by the REAP Grant. Believe you might qualify? Use our REAP Grant eligibility tool to check your eligibility.

For residential solar projects, almost everyone people are eligible for the 30% federal income tax credit, which makes solar a practical solution in many parts of the country. Moreover, many regional programs are intended to encourage more people to adopt solar power.

A total of 15 solar rebates and incentives are available in Hawaii through different utility companies and government agencies.

Solar incentives in HI

Solar and Wind Energy Credit (Personal)

Value:Up to $2,250

Beginning in the 1976 tax year, Hawaii businesses have been entitled to income tax credits on new renewable energy devices. The exact rates and amounts of exemptions vary depending on property classification and the specific type of energy system being installed. In each classification, "hard maximums" apply based on the retail price of the system. Amendments to the tax code have since allowed for credit amounts to be paid out as refunds or used toward income liability for the appropriate tax year. Additional information is available on the Hawaii Department of Taxation website.

Solar Water Heater Rebate

Value:Up to $500

Residential customers of the Hawaiian Electric Company, Maui Electric Company, or Hawaii Electric Light Company may be entitled to a one-time rebate to install or replace a solar water heater. Two rebate options, flat rates of $500 or $750, are available depending on the cost of the system. Either rebate will be paid to the solar contractor installing the water heater, meaning it will appear to the customer as a bill credit. Qualifying systems should satisfy all state standards for solar water heating and pass a final inspection from the utility. The program is available on the islands of Oahu, Maui, Hawaii, Molokai, and Lanai. Additional information is available from the HEC website.

Solar and Wind Energy Credit (Corporate)

Value:Up to $2,250

Beginning in the 1976 tax year, Hawaii residents have been entitled to income tax credits on new renewable energy devices. The exact rates and amounts of exemptions vary depending on property classification and the specific type of energy system being installed. In each classification, "hard maximums" apply based on the retail price of the system. Amendments to the tax code have since allowed for credit amounts to be paid out as refunds or used toward income liability for the appropriate tax year. Additional information is available on the Hawaii Department of Taxation website.

Distributed Generation Tariffs

Value:Varies

Interconnected renewable energy and distributed generation customers throughout Hawaii may be compensated for using their system through either grid-supply or Smart Export tariffs (net metering was abolished in 2015.) Under grid-supply tariffs, customer-generators will be credited on their monthly bills for energy sent back to the grid. Unlike net metering, the utility has direct control over how much energy is returned; this is to protect the grid and standardize capacity as per requirements. Different islands have different rate schedules, and rates will vary from time to time. Smart Export tariffs apply to renewable energy systems containing a separate storage module. Excess generation from the system will be used to charge the battery during the daytime, and this energy will be returned to the grid at night. Like grid-supply programs, different islands have different rate schedules for this excess generation. "Community-based tariffs" may apply for microgrid subscribers. These programs function similarly to individual systems, but compensation will be distributed to all subscribers in the proper proportions.

GreenSun Hawaii

Value:Varies

GreenSun Hawaii is an established loss reserve funded by the 2009 federal stimulus package. A variety of lenders throughout the state may tap into the fund to secure loans for homeowners seeking to install new renewable energy devices or make energy efficiency improvements. By having their loans secured, lenders are incentivized to offer lower rates and more optimal terms. Eligible projects include solar PV/water heating/HVAC systems, windows, insulation/weatherization, and ENERGY STAR certified appliances. Interested homeowners should visit the program website to find their local GreenSun lender.

City and County of Honolulu - Solar Loan Program

Value:Varies

Low to moderate-income homeowners in Honolulu or greater Oahu may be eligible for specialized financing on new solar PV/water heating systems, including any necessary roofing work for a successful installation. Condominium owners may also be eligible contingent on approval from their association. Loans come at zero interest, but they may be secured by a mortgage lien if the principal exceeds $10,000. Application forms are available from the City/County of Honolulu website.

Renewables and Efficiency in State Facilities & Operations

Value:Varies

In 2006, Hawaii governor Linda Lingle established new renewable energy standards for state agencies to follow by signing HB 2175. The new law contained: • a minimum LEED Silver certification requirement for all new state buildings, • a solar water heating requirement for all new state buildings, • a requirement for agencies to implement common-sense water and energy saving operational measures, • an order for agencies to purchase only environmentally-friendly products, • and a directive for agencies to track emissions from vehicles. Compliance with the law is measured through annual reports addressed to the legislature.

KIUC - Solar Water Heating Rebate Program

Value:Varies

Energy Wise is a program for commercial customer-members of the Kauai Island Utility Cooperative. Through the program, property owners may receive free advisory services for their energy efficiency and renewable energy needs. A new initiative under Energy Wise awards new solar water heating installations with a $1000 rebate. Eligible systems may be brand new or replace an existing solar water heater over 15 years of age. Additional information is available from the KIUC website.

Feed-in-Tariff

Value:Varies

NOTE: This program is no longer accepting participants. Solar PV, wind, and hydro customers of HECO, MECO, and HELCO may be eligible for the state's feed-in tariff program. Under the program, utilities may sign 20-year contracts to obtain the excess generation from the system in exchange for a fixed rate. Rates vary depending on the method of generation, the rated capacity of the system, and the island on which the system is located. Additional information is available from the Hawaii Department of Energy website.

Solar Contractor Licensing

Value:Varies

The Hawaii Department of Commerce and Consumer Affairs is responsible for issuing contracting licenses in the state. A variety of specialized solar work licenses are available depending on an applicant's training and vocational experience. Solar contracting licenses include C-60 (solar power), C-61 (solar energy), C-61a (solar hot water), and C-61b (solar HVAC). Each license has a separate exam, but all require four years of experience. To install and professionally repair the full breadth of solar PV systems, contractors should pursue a C-13 electrical license, which includes all the privileges of a C-60 solar power license. Plumbing contractors with license C-37 may work with solar water heaters. General contractors have the privileges afforded by a C-61 license. Depending on the license a solar contractor holds, they may need to subcontract certain plumbing or electrical jobs if they do not have the required license. State law requires licensed electricians/plumbers to sign off on any new PV or solar water heater.

City and County of Honolulu - Real Property Tax Exemption for Alternative Energy Improvements

Value:Varies

Any private renewable energy system in Honolulu carries a 25-year local tax exemption by ordinance of the city council. Solar, wind, biomass, and hydroelectric systems qualify for an exemption, as do systems improving energy efficiency at fossil fuel plants. Geothermal and nuclear systems are not exempt. Additional information is available from the Real Property Assessment Division website.

KIUC - Solar Water Heating Loan Program

Value:Varies

Residential members of the Kauai Island Utility Cooperative may be eligible for specialized financing on solar water heaters. Funding may be used to install a new system or replace an existing one over 15 years of age. Loans are serviced by the Kauai Community Federal Credit Union. There is no interest or down payment (both are covered by the utility.) The maximum repayment period is 60 months. The application process involves standard credit checks and a pre-installation audit by KIUC to determine compliance with state standards. Additional information is available from the KIUC website.

Renewable Portfolio Standard

Value:Varies

Beginning in 2009, the Hawaii state government has established a legally binding renewable portfolio standard (RPS) for itself. Previously, RPS laws included provisions for both new renewable energy projects and energy efficiency improvements/offsets; however, only projects falling under the former category meet RPS requirements as of 2015. By 2030, at least 40% of all energy generated in Hawaii must be from renewable sources. 100% of Hawaii's energy should be renewable by 2045. Compliance is measured through a Renewable Energy Credit system and reports sent to the legislature every five years. Additional information is available from the Hawaii Department of Energy website.

Hawaii Energy

Value:Varies

The Hawaii Energy benefits fund supports new renewable energy and energy efficiency incentive programs throughout the state, including public investments toward RPS standards. The fund is supported by a surcharge on all customer utility bills, and its annual budget is determined by each utility's demand. Currently, funds support public bonds for new renewable farms and incentive programs overseen by utilities on five islands. Additional information is available on the fund's website.

Farm and Aquaculture Alternative Energy Loan

Value:Varies

Hawaiian farmers, including fish farmers, may be eligible for special financing from the state government to fund energy efficiency/renewable energy improvement projects. Loans have a maximum principal of 85% of the applicant's project costs up to $1.5 million. Interest rates vary between agriculture and aquacultural property, but they will range from 3 - 5% on unpaid principal only. Repayment periods may extend up to forty years. Loans are serviced by the state Department of Agriculture. The application process includes standard credit checks. Additional information is available from the DOA website.

Are solar panels worth it in Hawaii?

Expecting to stay in your house beyond the solar payback period? Solar panels are a smart investment in Waihee-Waiehu CDP. Having a 5 kW solar system in Waihee-Waiehu CDP, HI can potentially save you approximately $34,516.4 over a span of 20 years, with an average break even point of 6 years.

The cost of not having solar panels in Waihee-Waiehu CDP, HI

Without solar panels or another backup power source, you lose out on the previously noted savings and are fully dependent on your electric utility for electricity. Full reliance on your utility company is not always ideal, as recent media examples have demonstrated.

Annually, the average number of outages per customer in Hawaii is about 1.44. Usually, outages have an average duration of 122.37 minutes. However, during critical events like earthquakes, wildlife damage, or equipment failure, these times can extend dramatically.

Even without a backup battery, a solar panel system could ease the burden of possible future power disruptions you may encounter.

Power Outages

Currently, 0 customers are being tracked in Maui County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Waihee-Waiehu CDP, HI?

Your Energy Needs - Even though larger solar panel systems are more expensive initially, the average price per watt lowers as the system size grows. It is often advantageous for homeowners to install a solar system that can make enough electricity to offset their electric bill, which results in significant savings.

Make & Model - There are a range of makes and models of solar panels. As the installer might have specific brand preferences, it's important to choose a highly rated installer. Consumers who opt for better materials usually enjoy a more favorable long-term experience.

Solar Panel Type - For valid reasons, monocrystalline panels have become the standard in the industry. They come with a higher price but are more energy-efficient. Many solar panel installers use panels made of this material.

Your Property - Elements like trees, sloped land, or other considerations might complicate the installation process. Many solar installers now are able to use satellite imagery to assess your home and factor in these aspects in the first cost estimate.

Labor Rates - The pay that various companies offer their employees are different, and these costs are transferred to the consumers. Companies that pay higher wages frequently garner higher reviews for their services and customer service.

Permitting & Interconnection - The cost of your installation will be affected by the local permitting and utility interconnection fees, which differ depending on the area. Reliable installers will factor these costs into your preliminary quotes to prevent unexpected expenses.

See what solar panels cost in other HI cities

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Who are the best solar installers in Waihee-Waiehu CDP?

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Auditing of energy requirements for independent energy generation.
  • Reparation of solar arrays.
  • Installation of solar arrays.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.

Energy Design

Eugene, OR(541) 485-8122

Services

  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Reparation of solar arrays.

Sunnova Energy

Houston, TX(866) 786-6682

Services

  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Reparation of batteries.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

Sunrun

San Francisco, CA(833) 394-3384

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.

Renewable Energy Services (RES)

Honokaa CDP, HI(808) 775-7410

Services

  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Auditing of energy requirements for independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Waihee-Waiehu CDP, HI Solar Panel Cost FAQs

  • As of November, 2024, the typical cost for solar panels in Waihee-Waiehu CDP, HI is $4.22/W. The cost of installing a 5 kW solar panel system in Waihee-Waiehu CDP, HI is about $14,770 post federal tax credit.
  • Residents of Hawaii can currently take advantage of 15 rebates and incentives offered by various utilities and government bodies. In addition, the 30% federal income tax credit is available to almost everyone.
  • Even though paying cash provides the most savings, there are now several financing options for solar panels that also are financially sensible. Installers will often include details on financing partners in the quotes they provide initially.
  • Yes, in Waihee-Waiehu CDP, HI, the average payback period for 5 kW solar panels is 6 years, resulting in average electricity savings of $34,516.4 over 20 years.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-11-03