When you install a solar system from Island Pacific Energy, you can expect an immediate savings on your utility bill. The amount of savings a solar power system provides is dependent upon the quality of the installation and where you live. Different areas of Hawaii have different amounts of average sunlight per day. The amount of direct sunlight you receive (taking into account environmental factors like rain, clouds, shade and temperature) and direction and angle your solar panels face determines the amount of energy will be produced. Island Pacific Energy uses custom, in house designed software programs to design your PV system to maximize your energy production. This results in greatest amount of savings for you.
How Solar Saves You Money
Solar systems generate electricity so you don’t need to purchase it from the utility. The less energy you buy from the utility, the more money you save. The amount of money a solar system costs less the Federal and State tax credits you receive and the amount of savings on your electric bill is your return on investment.
Solar for Business
To better understand how businesses save money with solar, consider the example below for purchasing a photovoltaic solar system in Hawaii:
In this example, the photovoltaic solar system costs $380,000 but the system owner qualifies for a Federal tax credit (30%) of $114,000 and a State tax credit (35%) of $133,000. Additional depreciation benefits along with tax adjustments brings the real cost to under $120,000. At an annual savings of $61,200 per year, the system pays for itself in under 2 years.
Solar For Non-Poft Organizations
To better understand how non-profit organisations save money with solar, consider the example below for a Power Purchase Agreement in Hawaii:
In this example, the solar system is installed at no cost to the non-profit organization. The non-profit enters into a Power Purchase Agreement to purchase the electricity from Island Pacific Energy at a rate far lower than the retail cost of electricity from the utility. At an annual savings of $30,600 per year, the non-profit organization starts saving money immediately with no out of pocket costs.
Paying for solar is easy. Island Pacific Energy offers many options including no money down loan, lease and PPA options. The most cost effective payment options are usually cash followed by a loan and then a lease or PPA.
We hope to have the opportunity to save you money by installing a commercial solar system from Island Pacific Energy. For a free, no obligation proposal that explains the benefits of solar, please contact Island Pacific Energy or call 808-377-4570