Are you mulling over the worth of residential solar systems on Maui?
Going solar is easier now than ever and the benefits of clean energy is more evident all over the island. Other sources of power are generated by burning fossil fuels which caused lots of harmful pollution. In contrast, solar is clean energy and its absolutely renewable.
The benefits of residential solar systems outweigh the cost of investing in clean energy. Even more, residential solar systems ROI makes it more attractive as homeowners on the island save a lot on electricity amongst several other benefits.
Why residential solar systems on Maui are worth it
Here are key reasons you shouldn’t miss out on home solar systems on Maui:
It’s easier to get now than ever
Once you’re ready to go solar, you’ll find various solar financing options that makes going green with clean energy easier. The following are the various financing options for residential solar systems on Maui:
- Clean Energy Credit Union
- HELOC Loans
- Personal loans, and
- Unsecured loans etc.
You can learn more about the best solar financing options on Maui.
Be eligible for solar tax credits and incentives
Here are the major tax credits and incentives for home solar systems on Maui:
Federal and state government tax credits
The federal and Hawaii state governments are offering various tax credits and incentives to homeowners with home solar systems on Maui. The federal solar investment tax credit is for homeowners who install residential solar systems on Maui until December 31, 2022. The benefits include a 26% solar tax credits.
The residential investment tax credit on Maui will be reduced to 22% by 2023 and it ends in 2024. To be eligible for the investment tax credit, your best bet is to get a solar system now and not later.
Other tax credits for home solar systems on Maui include Renewable Energy Technologies Income Tax Credit (RETITC) which is a 35% state solar tax credit. Homeowners with residential solar systems on Maui gets a maximum of $5000 tax reduction through RETITC.
Green Energy Money Saver Program (GEMS)
If you’re a moderate-income homeowner with home solar systems on Maui, you can be qualified for the special on-bill financing for your solar panels. These special billings cover various Hawaii energy boosting systems such as home batteries and water heaters.
Homeowners on the island who are interested in GEMS are required to have their source of power from either Hawaiian Electric (HECO), Hawaiian Electric Light (HELCO), or Maui Electric (MECO).
Benefits of residential solar systems on Maui
The following are the key benefits of residential solar systems on Maui:
- Easy Installation
- Opportunity To Earn Some Money
- Performance Guarantee
- Economic Savings
- Low Maintenance Costs
- Enjoy Rebates & Incentives
- Increase Home Value
- Reliable Energy Source
- Less Impact To The Environment
- Save On Utility Bills
Ready to go solar on Maui? Contact us right away. We are always excited to help with various questions and enquiries.