With professional installation, a typical 6-kilowatt residential solar panel system in Hawaii costs $20,760. That price drops to $14,532 after using the full federal solar investment tax credit (ITC).
The average solar panel installation costs $2.67 per watt in Hawaii. “Cost per watt” is similar to the price per square foot when you buy a house. It helps you compare the value of solar energy systems in different sizes. The federal solar investment tax credit is usually the most significant financial incentive when buying solar panels.
How much do solar panels cost?
This is lower than the average price of residential solar power systems across the United States which is currently $3.00 per watt. The size of a solar panel system also plays a role in how much the installation will cost. Larger solar installations will typically have a lower cost per watt, because the panels can be purchased at a 'bulk price'.
Overall, incentives in Hawaii could save you more than $10,000, which means your panels pay for themselves much faster and you enjoy boosted energy savings over time. Finally, we suggest you take some time to choose the solar panel brand that works best for you and your home.
The federal solar investment tax credit is usually the most significant financial incentive when buying solar panels. It is not a rebate or a refund but goes toward what you owe on federal income taxes. In Hawaii, you can lease a system or enter a power purchase agreement with low upfront costs.
One of the best ways to save over time when converting to solar in Hawaii is to install a solar battery alongside your panels. Solar batteries will bump up your upfront costs, but they very often pay for themselves in the Aloha State.
Solar batteries will bump up your upfront costs, but they very often pay for themselves in the Aloha State. As mentioned before, Hawaii no longer mandates net metering, which means you'll still have to pay the retail rate for any energy you pull from the grid.