Solar Financing Options in Hawaii
Compare the best ways to finance a solar installation in Hawaii. Based on average local electricity costs of 43¢/kWh and a typical monthly bill of $300, here is how each financing option stacks up over 25 years.
System Cost
$13,640
After Credits
$4,774
Federal Credit (30%)
$4,092
State Credit
$4,774
Financing Calculator for Hawaii
Net after credits: $4,774
| Method | Monthly Cost | Upfront Cost | 25-Year Total | 25-Year Savings | Own System |
|---|---|---|---|---|---|
Cash PurchaseBest Value | $0/mo | $4,774 | $8,524 | $120,600 | Yes |
Solar Loan | $36/mo | $0 | $9,292 | $116,081 | Yes |
Solar Lease | $240/mo | $0 | $103,635 | $26,594 | No |
Power Purchase Agreement | $44/mo | $0 | $13,201 | $117,028 | No |
Cash Purchase
Best ValueMonthly
$0
Upfront
$4,774
25-Year Total
$8,524
25-Year Savings
$120,600
Solar Loan
Monthly
$36
Upfront
$0
25-Year Total
$9,292
25-Year Savings
$116,081
Solar Lease
Monthly
$240
Upfront
$0
25-Year Total
$103,635
25-Year Savings
$26,594
Power Purchase Agreement
Monthly
$44
Upfront
$0
25-Year Total
$13,201
25-Year Savings
$117,028
Estimates based on average electricity costs in Hawaii. Actual savings vary based on system size, energy usage, and local utility rates. Loan calculations assume fixed-rate financing. Consult a solar advisor for a personalized quote.
Understanding Your Financing Options in Hawaii
Cash Purchase
Pay upfront after tax credits and own your system outright. This option delivers the highest long-term savings since there are no interest payments. Your net cost in Hawaii is $4,774 after all credits.
Solar Loan
Finance your system with $0 down and own it from day one. Monthly loan payments are often lower than your current electricity bill. Typical loan terms in Hawaii range from 10 to 25 years.
Solar Lease
Lease a system with no upfront cost and pay a fixed monthly amount that is typically 20% less than your current bill. The installer owns and maintains the system for the 25-year term.
Power Purchase Agreement (PPA)
Pay only for the energy your panels produce at a rate lower than the utility. No upfront cost and no maintenance responsibilities. A great option if you want guaranteed savings with zero commitment.
Best Value in Hawaii: Cash Purchase
Based on average electricity costs, the cash purchase option offers the highest 25-year savings of $120,600 for homeowners in Hawaii. Adjust the calculator above to see how different interest rates and loan terms change the comparison.
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