Real Estate

Maui Energy Efficiency Programs & Tax Credits

May 18, 2015, 3:41 PM HST
* Updated May 18, 3:43 PM
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PV. Courtesy image.

By Alexandra Mitchell

There seems to be a lot of buzz going around Maui pertaining to home energy efficiency, residential rebates for photovoltaic systems and new incentives through Hawaiʻi Electric Company.

Below is a short guide for navigating Maui County’s energy programs and tax credits.

What is Hawaiʻi Energy?

Hawaiʻi Energy is a series of conservation programs that have been created to assist Hawaiʻi home and business owners in becoming more energy efficient, and at the same time, save some of their hard-earned cash.

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Programs include rebates and incentives for residential homes and businesses. Residential home owners can apply for cash rebates that will help you invest in energy efficient equipment to power your home; solar power (water cooler timers, water heating, lighting, Energy Star appliances), HVAC systems and VFD swimming pool pumps.

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In addition, Hawaiʻi Energy offers business owner incentives for building envelope improvements, customized projects, Energy Star appliances, HVAC, lighting, pumps and motors, sub-metering, water cooler timers, water heating, additional renewable energy services and ongoing maintenance.

For more information, visit the Hawaiʻi Energy website.

After implementing Hawaiʻi Energy programs into your home or business, owners can check out two additional programs through Maui Electric Company: Net Energy Metering and Feed In Tariff.

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Net Energy Metering
Available for both residential and commercial property types, Net Energy Metering is focused on distributing unused energy into the wholesale market. Basically, when your energy system generates more energy then you are using, the remainder flows to the grid available for others to use.

Those who join the Net Energy Program will be credited energy by MECO and be provided a “net energy” printout on their monthly statement.

For more information about NEM, visit MECO’s website.

Feed In Tariff
Created in 2010 by the Hawaiʻi Public Utility Commission, the Feed In Tariff program allows MECO to purchase the renewable energy that your business generates. It allows larger sized systems than the Net Energy Metering Program does, but the payout rate that’s received from MECO is lower than wholesale. The rate depends on the type of renewable energy technology that you are using–wind, solar, PV, etc.

Under this program, owners can, of course, use their own energy, but are not allowed to sell to a
third party.

For more information about FIT, visit MECO’s website.

Tax Credits
If you have implemented a renewable energy system in your home or business, you are eligible for both State of Hawaiʻi and federal tax credits. These credits are available to you even if you are not a part of the NEM or FIT programs. For example, if you have a solar PV system, you are eligible for a 35% State of Hawaiʻi tax credit and a 30% federal tax credit.

For more information about the Maui County Energy Alliance and Hawaiʻi Renewable Energy Programs, visit the County of Maui website.

 

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