For an average size system of about 5 kw the out of pocket cost of the solar array would be 25 000.
How much money do solar panels save for hawaii resident.
In a nutshell a standard 5 kilowatt system will net you an estimated 11 000 back from both credits 4 while building home equity.
On average solar panels will save you over 1 100 per year on your electricity bills.
This is assuming a system size of 6 kilowatts which is common in the us.
Everyone in hawaii can grab the us federal solar tax credit now stepped down to 26 of your costs still a significant savings.
Not bad just for putting up solar panels.
For an average sized 6kw solar system installed anywhere in the country solar panels will save about 1 500 annually.
These savings are very real and their relative strength depends on the availability of local city and state incentives.
Solar panel cost in hawaii the average cost for an installed residential solar system in hawaii is currently 11 837 after claiming the 26 federal solar tax credit.
But the true cost of solar panels and whether they ll help you save money depends on a few key factors.
The estimate also considers the average sunshine available in the country and the average electricity price of 13 34 cents per kilowatt hour reported by the energy information.
The time to go solar in hawaii is now if solar power here is almost 240 more cost effective than the rest of the nation 5 it wouldn t be wise to let another sunny hawaiian day go to waste.
On average installation and the system together can run between 15 000 and 25 000.
How much money you can save with solar depends on which island you live on and how much electricity you use.
As we ve discussed on the hawaii solar incentives page here at hawaiisolarhq the tax credit in the aloha state is 35 of the cost of the solar installation or 5 000 whichever is less.
This is 2 67 per watt.
Hawaii solar panel cost breakdown 5kw install.
And while the cost of solar panels has dropped more than 70 since 2010 according to the solar energy industries association batteries can cost as much as 10 000 to 15 000 including installation according to solar united neighbors.
State solar tax credit 5000.
Fortunately for us that gets knocked down quite a bit by the following.
Many hawaiians report spending a nywhere from 300 to 400 a month on their electricity bill mainly due to the cost of importing energy from the mainland.
