Photovoltaic Solar Electricity
Did you know you can claim 65% of your Photovoltaic System costs from State (35%) and Federal (30%) Tax credits?
How it Works
The PV Solar Modules that are installed on your roof consist of smaller solar cells.
Solar cells are made of thin layers of silicon. When sunlight strikes the cells, chemical reactions release electrons, generating electric current. Individual cells are grouped together to form solar modules which, when installed on the roof or ground as a component of a complete solar system, generate electricity.¹
Some of the Benefits of Solar PV:¹
- Save money every month by lowering your electric bills
- Save money on your system purchase with state rebates and federal tax credits
- Utilize free energy from the sun to reduce the effect of utility rate increases
- Enjoy energy independence by becoming your own power producer
- Protect the environment by using clean, renewable energy in your home
For specific, up-to-date information on federal, state, and local incentives available in your area, consult the Database of State Incentives for Renewable Energy, funded by the U.S. Department of Energy. You can find this helpful resource at www.dsireusa.org.
Solar Reduces Your Utility Bills
Electricity rates in many areas continue to rise. Currently rates are increasing an average of 5% per year! But by generating your own electricity, you'll enjoy a hedge against future rate hikes. And in most states, you can sell your surplus electricity back to the utility, generating a credit on your bill.¹
Net metering programs in 38 U.S. states and the District of Columbia help increase your savings. With net metering, your electric meter tracks your net power usage, spinning forwards when you use electricity from the utility, and backwards when your system is generating more electricity than you need. Your local utility or www.dsireusa.org can fill you in on specific details of the net metering program in your area.¹
You can have a look at HECO's website for more information about Net Metering here.
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¹ Based on California home with average home energy use of 7,000kWh/yr. Sources: Dept. of Energy, Energy Information Administration. National Renewable Energy Laboratory's PVWATTS 10 Californian cities' estimated AC energy production. OnGrid Solar.
² Available to taxpayers who have an income tax liability. Contact the State Department of Taxation, IRS, or a professional tax advisor for details.