Solar Guide for Hawaiian Electric (HECO) Customers

If you're a Hawaiian Electric (HECO) customer considering solar energy, you're making a smart financial decision. With residential electricity rates averaging 40.6 cents per kWh, solar panels can dramatically reduce or even eliminate your monthly electric bill. The typical Hawaiian Electric (HECO) customer spends approximately $325 per month on electricity — money that could be working for you instead of going to the utility.

Oahu

Hawaiian Electric (HECO) has a limited net metering policy. While net metering isn't currently offered, solar customers still save substantially by reducing the amount of electricity they purchase from the grid. By consuming your solar energy directly as it's produced and potentially adding battery storage, you can minimize your reliance on grid electricity at 40.6¢/kWh.

An 8kW solar system for a Hawaiian Electric (HECO) customer costs approximately $24,080 before the 30% federal Investment Tax Credit. After the ITC, your net cost drops to about $16,856. This system produces enough clean energy to save you approximately $5,945 per year, resulting in a payback period of roughly 2.4 years.

After your system pays for itself, you'll enjoy 21+ years of dramatically reduced electricity costs. Over a 25-year period, total savings for Hawaiian Electric (HECO) customers are estimated at $148,625 — and that's without accounting for the likely 2-3% annual increase in electricity rates that would make your savings even greater.