The sun is almost always shining in Hawaii and its beautiful coastal islands. On average, in Oahu, 271 days out of the 365 days in a year are forecasted as sunny. With so many sun-filled days in the forecast, Hawaii makes solar energy not just a feasible option, but a smart one, especially with rising energy costs. Discover how expensive electricity in Oahu, Hawaii really is compared to how much solar panels are, and why solar energy is a cost efficient and sustainable way to power your home.
Hawaii has been known for its high electricity bills. So, how expensive is it really? And why?
Hawaii ranks highest for average monthly residential electric bills in the nation, leaving residents asking, “Why is my electricity bill so high in Hawaii?”. In Honolulu, the average monthly electric bill per month is $203. This average price includes apartments and condos. Single family home averages can be as much as $300 - $500 and even more with the addition of air conditioning, water pumps, and electric vehicle charging.
The cost of electricity in Hawaii is expensive due to geographic location and how far the island is from the mainland. Prices are higher because oil has to be imported to power plants throughout the islands of Hawaii from the continental US. When fuel prices are high, so are Hawaii’s energy bills. The fuel used for oil tankers is also included in electric bills; in fact, the purchased power and fuel makes up almost half of a monthly electric bill for a Hawaii resident.
Now that you know how expensive the average electric bill in Honolulu is and why, discover how much photovoltaic systems cost in Hawaii.
The cost of solar panels in Hawaii depends on many factors, including the size of your home and system, where your home is located and how many watts of energy you will need. Currently, there are federal solar tax credits[a] available that can help you save even more. To accurately answer this common question about the average cost of a PV system in Hawaii, we highly suggest that we provide you with a free no-obligation estimate. All it takes is a single copy of your latest electric bill. You will be surprised at how affordable solar can really be.
Yes. With the 26% federal tax credit in addition to the 35% state tax credit available, solar incentives in Hawaii are still going strong. Solar incentives are so high in Hawaii because the state does not produce its own natural gas itself, including gas, oil and coal. The State of Hawaii Renewable Energy Technologies Income Tax Credit (RETITC) allows Hawaii residents a 35% state solar tax credit for residential solar systems with a maximum credit of up to $5,000 per system.
The federal Solar Investment Tax Credit (ITC) amount will decrease over the next few years, starting in 2023, but will remain at a 26% credit for residential solar systems installed before December 31, 2022. So, the sooner you install a photovoltaic system in Hawaii, the less it will cost and the more you will save.
Start saving today! If you’re looking to go solar in Oahu, KumuKit™ has the experience you need to maximize your savings with a high-quality photovoltaic system. Contact us today or get a free quote to get started.