Make the Switch to Solar in Hawaii
Hello, there, and welcome back to the Sunetric blog! As a leading solar panel provider in the state of Hawaii, we have made it our mission to educate as many people as possible on the benefits that going solar can provide. Solar energy is becoming an increasingly viable form of energy production in the United States and across the world and we feel that in the coming decades, solar energy will be as common as smartphones are today. In today’s post, we are going to pick up where we left off last time and continue to go over some of the major benefits that having a solar array installed on your home can have. If you haven’t read our previous post on the subject, we suggest you go back and do so. However, if you would rather jump right in and read our previous post later, that it completely fine also. Continue reading below to learn more about the benefits that going solar can have for you.
Hawaii is All About Solar Energy
Over the years, Hawaii has become one of the leading states in terms of solar energy production. Due to the fact that electricity is so expensive on the islands, Hawaii, as a state, has made a concerted effort to wean their citizens, manufacturers, and businesses off of outside electricity independence. It costs about three times more to import energy into Hawaii when compared to the mainland United States, a statistic that is quite alarming for the people that call this great state home. While the lowering of energy independence on the mainland is an obvious benefit to making the switch to solar, below we have listed a few more benefits that may be less obvious to the average person.
- Guaranteed Performance: When solar energy was first introduced to the general public, there was a concern that solar arrays would not be able to stand up to the test of time. Because of the delicate nature of early solar panels, lifespans on these pioneering arrays were not as great as they could have been. Luckily, modern solar panels are able to withstand pretty much anything that is thrown their way. The vast majority of solar panel manufacturers ensure their panels for 20 to 25 years after the purchase date, but, the typical lifespan of a solar panel is closer to the 30 year mark. To add on to this already amazing lifespan, manufacturers also guarantee that at the 20 year mark, the panels will maintain an 80 percent efficiency rate. With this type of longevity and performance, it is no wonder that more and more Hawaii residents are deciding to make the switch to solar energy.
- Tax Incentives: Another benefit that comes along with making the switch to solar is the fact that the government will provide financial assistance. That’s right, if you make the switch to solar, the government will actually give you money. The Hawaii Energy Tax Credit allows residents who make the switch to solar energy to claim an income tax credit of 35% of the cost of equipment and installation of a solar photovoltaic system. A credit that exceeds the taxpayer’s income tax liability may be carried forward to subsequent years until exhausted. Additionally, there is a 24.5% refundable option for those residents who do not have sufficient tax liability. An exception also exists for Hawaii residents who earn less than $20,000 or $40,000 if married and filing jointly that allows them to get the full 35% refundable tax credit.
- Start Saving Instantly: Another excellent benefit to going solar is the fact that you can start to save money instantly. Through the financing programs that we help our customers with, your monthly electricity bill can instead be replaced by a monthly loan payment. In many cases, this loan payment is lower than the electricity bill that a person would normally have to pay and, even better, your loan payment will not rise as a result of price inflation. Knowing exactly how much you are going to pay in electricity costs each month will allow you to practice better financial planning and, hopefully, allow you to save up a little extra money.
Thank you for taking the time to read our short blog series on the benefits of switching to solar energy in Hawaii. If you would like to learn more about the services that we provide or you would like to learn more about the steps you need to take to make the switch to solar energy, please do not hesitate to get in touch with us today at Sunetric. We have been a leading provider of solar panels in Hawaii for decades and we have the knowledge, tools, and experience you need in order to make sure that you are getting the best solar array possible for your home.