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.
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 home equity line or loan and then a lease or PPA.
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.
To better understand how you save money with solar, consider the example below:
System Size: 6,000 Watts
System Cost: $25,852
Annual Energy Generation: 9,858 kWh
Annual Savings (@$0.34/kWh): $3,352
In this example, the solar system costs $25,852 but the homeowner qualifies for a Federal tax credit of $7,756 and a State tax credit of $6,508. This brought the net cost of the solar system to the homeowner down from $25,852 to $13,541.
The solar system will save the homeowner money on the utility bill each month. Based on the system size, location and installation, the homeowner can expect to save $3,352 annually in energy costs. When you consider the total savings over 25 years, this amounts to $148,754.
In this example, the homeowner will earn an annual return on investment of 26% or an incredible 929% over 25 years!