Are solar panels worth it on Maui? This is one of the key questions you’ll most likely ask before making up your mind about going green on the island.
For many households, the escalating cost of electricity from traditional sources makes solar installation seem like the perfect solution. However, if you’re yet to figure out the core benefits of going solar on Maui, we’ve highlighted several key metrics to make it easier for you to draw the right conclusion.
How To Figure Out If Solar Panels Are Worth It On Maui
Review your electric bill
Solar panels generate their own energy and can thus significantly reduce, if not completely eliminate, your monthly electricity expenditure. The higher your bill, the more probable it is that switching will save you money. However, keep in mind that energy prices and use — the two primary costs on your bill — are subject to change.
The amount of savings could change if a utility’s electricity costs fluctuate. Similarly, as energy usage changes, so does the amount of money saved. So, if you’re asking are solar panels worth it on Maui, reviewing your electric bill is a good way to start.
Evaluate your sunlight exposure
With more sun, more energy is produced, and there is a bigger possibility for solar savings. You can enjoy as much sunlight as you can imagine on Maui. All you have to do is take advantage of that sunlight to generate the electricity you need to power your home on Maui. So, if you’re wondering are solar panels worth it on Maui, consider the endless amount of sunlight the island gets each day. That sunlight can save you thousands of dollars every year and eradicate your electricity bills.
Estimate residential solar panel cost
The majority of the cost of solar panels is in the installation and purchase of the panels themselves. The upfront costs can be offset by low long-term expenses. The majority of systems are low-maintenance and designed to run for 20 years or longer with little change in the amount of electricity produced.
Consider how much energy you use on a regular basis (your usage is shown on your monthly utility bill) and what size system would generate the required quantity when determining the total cost. These are key things to consider if you’re asking are solar panels worth it on Maui?
Look for incentives
The government has subsidize installing solar panels as an alternative energy source. The federal tax credit is nonrefundable, which means you won’t get a refund if you take advantage of it. Instead, you can lower — or perhaps eliminate — your tax liability.
Learn about rebates, incentives, and tax credits for solar systems in Hawaii. You can also read about Hawaii’s renewable energy incentives. These are key things to consider if you’re asking are solar panels worth it on Maui?
Are solar panels worth it on Maui?
Solar panels are absolutely worth it on Maui. In addition to making the island a better place for everyone by reducing the burning of fossil fuels, it’s worth installing solar panels in your home while the 26 percent tax benefit is still in effect. Learn more about the impact of fossil fuels on global warming.
If you opt to buy solar panels, you can easily get various rebates and discounts by contacting Pacific Energy.