Solar Rebates Go Through the Roof

By Wendy Osher

Photo courtesy: Hawaii Energy, Conservation and Efficiency Programs.

Residents who replace their old electric water heaters with solar water installations could be eligible for rebates of up to $1,750.  The offer from Hawaii Energy is good for a limited time to Maui County, Oahu and Big Island residents beginning on March 21, 2011.

The rebates are made possible through federal stimulus money obtained through the American Recovery and Reinvestment Act, as well as Hawaii’s State Energy Program.  The rebates are being offered through May 31, 2011 or until funds are exhausted.

The bonus rebates apply to all retrofit installations that are not already pre-approved by Hawaii Energy and are purchased between March 21 and May 31, 2011.

Residents have two options for the offer:

FINANCED SYSTEMS

Under Hawaii Energy’s “Hot Water, Cool Rates”, Program, Hawaii residents who finance a new solar water heating system to replace their old electric water heater through a participating lender will now receive a bonus instant rebate of $750 for completing a simple questionnaire aimed at improving Hawaii Energy’s programs.  The program currently offers select financial institutions a $1,000 incentive to buy-down the interest rate to 0% or a low rate for borrowers. This brings the total amount of assistance to $1,750.

CASH PURCHASED SYSTEMS

For Hawaii residents who replace their electric water heater with a solar water heating system, without financing through the “Hot Water, Cool Rates” Program, receive this limited time bonus rebate of $750. This will double the current $750 instant rebate to $1,500.

“We’re glad to be able to offer these bonus rebates to help residents take advantage of the benefits of solar water heating in these tough economic times,” said Ray Starling, Hawaii Energy’s Program Manager. “Solar water heating significantly reduces electricity usage and helps to lessen our state’s dependence on imported oil. It is a cornerstone of our clean energy efforts.”

Officials with Hawaii Energy say Water heating costs can account for 30%-40% of the average Hawaii residential electric bill in a non-air conditioned home.  Solar water heating systems on average result in savings of about $10 to $15 per person, per month.

To take advantage of this offer, a list of Hawaii Energy’s participating Solar Contractors and Lenders can be found at http://hawaiienergy.com/94/hot-water-cool-rates.

*** Supporting information courtesy Hawaii Energy.