There are several ways to finance your solar and battery system in Hawaii. Each has different implications for cost, ownership, tax credits, and home value. Here’s what you need to know. For current system pricing, see our 2026 solar cost breakdown.
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Before comparing individual options, understand this fundamental choice. It affects your tax credits, home value, and total cost over the life of the system.
Cash or loan — you build equity
Someone else owns it — you pay monthly
| Factor | Cash Purchase | Solar Loan | Solar Lease | PPA |
|---|---|---|---|---|
| You own the system | Yes | Yes | No | No |
| Upfront cost | Full system price | $0 down available | $0 down | $0 down |
| Monthly payment | None | Fixed loan payment | Fixed (may escalate) | Per-kWh rate (may escalate) |
| Tax credits go to | You | You | Leasing company | PPA provider |
| BYOD+ incentive | You | You | May go to lessor | May go to provider |
| 25-year total cost | Lowest | Low | Higher | Higher |
| Home value impact | +4% avg | +4% avg | Neutral or negative | Neutral or negative |
| Best for | Maximum ROI | Most homeowners | Low tax liability | Commercial / nonprofits |
Paying cash delivers the best return on investment. You own the system outright from day one, receive all tax credits and HECO incentives directly, and enjoy the shortest payback period — typically 5–8 years in Hawaii. Use our solar calculator to estimate your payback timeline.
Hawaii 35% state credit (up to $5,000), 30% federal battery credit, BYOD+ upfront payment, and property tax exemption all go directly to you.
After the one-time purchase, your electricity cost drops to HECO’s ~$25/month minimum charge. No loan interest, no escalating lease payments.
Owned solar increases Hawaii home values by an average of 4.1%. Buyers prefer homes with owned systems — no lease to assume.
A solar loan lets you own the system with $0 down. Monthly payments are typically less than your current HECO bill, so you save money from day one. All tax credits and incentives go to you.
0% interest and no payments for the first 24 months
Use the 0% intro period to apply your tax credits toward the principal — dramatically reducing your balance before interest starts.
Choose your term: 5, 10, 15, 20, or 25 years
Sungage’s tax credit bridge lets you defer principal payments until your credits arrive — ideal for larger systems.
On-bill financing through HECO — no credit check required
GEMS is administered by the Hawaii Green Infrastructure Authority. The loan transfers with the property, not the person — simplifies home sales.
Rates and terms are subject to change. Contact us for current offers and pre-qualification.
With a solar lease, a financing company owns the system on your roof. You pay a fixed monthly lease payment — typically lower than your current electric bill — for 20–25 years.
For most Hawaii homeowners with tax liability, owning the system (cash or loan) delivers significantly better long-term value. Over 25 years, the total cost of a lease typically exceeds the cost of purchasing — and you build no equity.
A PPA is similar to a lease, but instead of a fixed monthly payment, you pay a per-kilowatt-hour rate for the electricity the system produces. The PPA provider owns and maintains the system.
PPAs are most common for businesses, nonprofits, government buildings, and schools that cannot directly claim tax credits. The PPA provider claims the credits and passes the savings through as a lower rate. See our commercial solar page for more on commercial PPA structures.
We run the numbers for your specific situation — tax liability, budget, timeline, and goals. No pressure, just clear comparisons.
System types, costs, and what’s included
Tax credits, rebates, and BYOD+
Estimate your system size, cost, and savings
How to maximize your total savings