Solar Panels Cost 3.2k-16k in Waikoloa Village CDP, HI | October, 2024

Solar Panels Cost $3.2k-$16k in Waikoloa Village CDP, HI | October, 2024

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How much do solar panels cost in Waikoloa Village CDP, HI in 2024?

In October, 2024 in Waikoloa Village CDP, HI you'll pay about $4.68/W to get solar installed.

Stemming from the cost, expect the cost to be $4,680, on average, for every 1 kW (or 1000 watts) of solar energy your panels can generate. When you subtract the 30% federal tax credit, you will pay approximately $16,380, in Waikoloa Village CDP, for a 5 kW panel install. Keep in mind that a higher capacity system could be essential to meet your energy demands.

Use the left-hand menu to select your area and find out the typical roof size and the maximum generation capacity for residential solar on homes in your county. Below, you can see a detailed outline of the costs, payback period, and 20-year typical savings for a 5 kW system in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Waikoloa Village CDP: $16,380US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Waikoloa Village CDP: 7 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Waikoloa Village CDP: $25,502US Average: $15,784

Solar Potential in Waikoloa Village CDP

Estimated system size and solar electricity production per median viable roof in
Waikoloa Village CDP.

Roof size 1,180sq. ft.
Capacity 16.5kW DC
Electricity 21.1kkWh AC per yr.

Electricity Costs in Waikoloa Village CDP, HI & What that Means for Your Solar Panel Pricing

The typical kWh usage for a Waikoloa Village CDP resident is 461 monthly, with an average electric bill of $203.76. It’s essential to recognize that this figure reflects the energy consumption of apartments and other smaller residences.

For October 2024, the mean electricity rate in Waikoloa Village CDP, HI is 44.19¢ per kWh.

The average energy user in Waikoloa Village CDP has to have a 4 kW or more solar setup to account for their entire power consumption needs. At this time, a 4 kW solar panel installation will set you back about $18,720at first, but thanks to the 30% federal tax credit, you receive 30% back, bringing the cost down to $13,104.

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Average solar panel costs by system size in Waikoloa Village CDP

Located below and to the left, you can find the cost summary for different sizes of solar panel systems set up in Waikoloa Village CDP. When you select a more extensive solar system, the cost is greater, but it also yields more significant electricity savings and a larger income tax credit.

The calculator to the right and below provides a detailed summary of solar panel costs and benefits, based on an average electric bill of $203.76 in Waikoloa Village CDP. Change the $203.76 to your typical electricity bill payment for results that fit your situation.

System Size 1kW
Roof Size Min. space required
72 ft²
Electricity Value Annual Production $676 a year
Est. Price
$3,276
Savings from a 1kWthis system
  • Est. yearly production 1,535 kWh
  • Est. monthly savings $56
  • Full payback in 1 years
Environmental Impacts
  • Reduces CO2 emissions by 1.1 tons a year
  • Equivalent to planting 51 trees a year
  • Equivalent to driving 2,723 mi less a year
System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $1,351 a year
Est. Price
$6,552
Savings from a 2kWthis system
  • Est. yearly production 3,071 kWh
  • Est. monthly savings $113
  • Full payback in 3 years
Environmental Impacts
  • Reduces CO2 emissions by 2.2 tons a year
  • Equivalent to planting 101 trees a year
  • Equivalent to driving 5,446 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $2,027 a year
Est. Price
$9,828
Savings from a 3kWthis system
  • Est. yearly production 4,606 kWh
  • Est. monthly savings $169
  • Full payback in 4 years
Environmental Impacts
  • Reduces CO2 emissions by 3.3 tons a year
  • Equivalent to planting 152 trees a year
  • Equivalent to driving 8,169 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $2,702 a year
Est. Price
$13,104
Savings from a 4kWthis system
  • Est. yearly production 6,141 kWh
  • Est. monthly savings $204
  • Full payback in 5 years
Environmental Impacts
  • Reduces CO2 emissions by 3.99 tons a year
  • Equivalent to planting 183 trees a year
  • Equivalent to driving 9,867 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $3,378 a year
Est. Price
$16,380
Savings from a 5kWthis system
  • Est. yearly production 7,677 kWh
  • Est. monthly savings $204
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 3.99 tons a year
  • Equivalent to planting 183 trees a year
  • Equivalent to driving 9,867 mi less a year

Waikoloa Village CDP Solar Panel Installation Incentives & Rebates | 2024

For rural small businesses and agricultural properties, the REAP Grant could provide funding that covers between 80% and 100% of the necessary expenses for installing renewable energy systems. Think you might qualify? Use our REAP Grant eligibility tool to confirm your eligibility.

The federal government offers a 30% tax credit for residential solar systems, making solar attractive and practical for a variety of homeowners. Moreover, several state and local programs are in place to further encourage the adoption of solar energy.

In Hawaii, 15 solar rebates and incentives are currently available from various utilities and government organizations.

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?

When you intend to live in your home beyond the payback period of your solar system, solar panels are an excellent choice in Waikoloa Village CDP. In Waikoloa Village CDP, HI, the installation of a 5 kW solar system can save you an average of $32,522.4 over 20 years, with an average break even point of 7 years.

The cost of not having solar panels in Waikoloa Village CDP, HI

Beyond forgoing the savings discussed previously, not installing solar panels or another form of backup power results in you being completely dependent on your electric utility. The media has demonstrated several cases where total dependence on your utility isn't always ideal.

In recent years, the utilities in Hawaii have had about 1.44 outages per customer each year. Outages generally last for an average of 122.37 minutes. During major occurrences like vandalism, equipment failure or thunderstorms, these times can extend significantly.

Whether a backup battery is included or not, a solar panel system could reduce the burden of potential future outages.

Power Outages

Currently, 0 customers are being tracked in Hawaii County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Waikoloa Village 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. For most consumers, installing a system that can generate enough power to reduce their entire electric bill is beneficial, providing significant savings.

Make & Model - There are a range of makes and models of solar panels. Picking an contractor with specific brand preferences means it's even more important important to go with a recommended company. The choice of high-quality models can substantially improve the long-term experience for buyers.

Solar Panel Type - Monocrystalline panels have earned their place as the industry standard, and for good reasons. Even with a higher cost, this technology produce more energy. The majority of installers choose panels constructed using this material.

Your Property - Each property and residence is unique. Issues like uneven land, trees, or other obstructions may add to the complexity of the installation. Currently, most solar installers can assess your home using satellite images and incorporate these elements for the initial cost estimate.

Labor Rates - Companies pay their employees in varying amounts, and these costs are passed down to consumers. It is typical for businesses that offer higher wages to garner better reviews for their services and customer service.

Permitting & Interconnection - Local permitting and utility level interconnection fees differ by area and will impact your final install price. Quality local installers will incorporate these figures into your first estimates to eliminate any surprises.

See what solar panels cost in other HI cities

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Who are the best solar installers in Waikoloa Village CDP?

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

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

SunPower Corporation

San Jose, CA(800) 786-7693

Services

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

Energy Design

Eugene, OR(541) 485-8122

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Consulting on all things solar related.

Sunnova Energy

Houston, TX(866) 786-6682

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

Sunrun

San Francisco, CA(833) 394-3384

Services

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

Renewable Energy Services (RES)

Honokaa CDP, HI(808) 775-7410

Services

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

Waikoloa Village CDP, HI Solar Panel Cost FAQs

  • During October, 2024, the average price for solar panel installations in Waikoloa Village CDP, HI is $4.68/W. A 5 kW solar panel system will cost you around $16,380 in Waikoloa Village CDP, HI after the federal tax credit is applied.

  • If you live in Hawaii, you can find 15 rebates and incentives through different utilities and government agencies. Additionally, almost everyone is entitled to the 30% federal income tax credit.

  • Cash payments provide the greatest savings, but numerous financing options for solar panels that are financially advantageous are now available. Financing partners are often associated with many installers, and this will be detailed in your initial quotes.

  • Yes, the payback period for 5 kW solar energy systems in Waikoloa Village CDP, HI averages 7 years, with electricity savings of about $32,522.4 over 20 years.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-10-01