Solar Power for Hawai’i Homeowners
With electricity costs on the Big Island among the highest in the nation homeowners are finding it increasingly compelling to install a solar electric system.
Homeowners Save Big With Solar
A Solar Electric System is one of the best investments a homeowner can make. Besides being an investment in the environment which is priceless, Federal and State tax incentives can often allow for 50% or more of the system cost to be covered and returned to the eligible homeowner within a few years or as little as one year depending on tax situation. Let us show you how much you can save with a free consultation!
Federal Tax Incentives: Homeowners can claim a federal tax credit of 30 percent of the installed cost of a solar electric system with no limit on that credit amount. Unused amount may be rolled forward until exhausted for a maximum of 20 years. The current sunset date of this tax credit is December 31, 2019.
Hawaii Tax Incentives: Homeowners can accrue a state tax credit of 35 percent of the installed cost of the system with a cap of $5,000 per each 5kW. Any unused tax credit dollars can be rolled forward into future tax years until exhausted.
Ready to find out more?
As part of the financial evaluation of a Hawai’i homeowner purchasing a residential ProVision PV system, we prepare a detailed analysis. Contact us if you’re interested in how these savings stack up for your property.
We are proud to offer Mosaic Energy + Storage Home Loans made specifically for solar PV systems with battery storage. Mosaic is making home battery financing simple for qualified homeowners. More financing options are available through local credit institutions or through the Hawaii GEMS program.
A ProVision solar electric system provides a monthly savings credit on your electric bill by replacing some or all of your purchased utility kilowatt-hours with solar-generated electricity. These savings will depend on the size of the installed system, time of year, location and the price of electricity and will be realized every month over the life of the equipment, which is estimated at 30 years. The savings potential will be even greater should the cost of utility electricity rise over time.
Required lawyer language: ProVision makes no binding claims or guarantees regarding the accrual of tax credits and depreciation dollars from the purchase of a solar electric system. Consult with your tax advisor, accountant, IRS or Hawai’i Department of Taxation for eligibility requirements and details on how these credits should be calculated for your own individual or corporate situation.