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SYSTEM COST

Solar Thermal

Low Initial Cost – $5000-6000
Return On Investment
Fast Pay Back, 2.5-4 Years
Initial Cost$6,000
Hawaii Energy Rebate-$500
Subtotal$5250
Tax Credit 65%-$3,412.5
Net Cost$1,737.5
Avg Monthly Savings$80
Cost/Avg SavingsApprox 21 Months
Or 1.8 Years
To Get Your Net Cost Back

Thermal Solar Saves More

In Years To Come.
Here’s Why:
Say the typical system can save $50 per month at first., When the kwh rate doubles in 10years, your thermal solar system will save you $100 per month and still makes 120 gallons of hot water a day.

Photovoltaic

High Initial Cost – $10,000-50,000
Return On Investment
Long Pay Back, 8-14 Years
Initial Cost, Typical 3 Phase Buildup$36,000
 
 
Tax Credit 65%$23,400
Net Cost$12,600
Avg Monthly Savings$135
Cost/Avg SavingsApprox 93 Months
Or 7.8 Years
To Get Your Net Cost Back

Solar Photovoltaics Save You

Less At Time Goes By.
Here’s Why:
Most P.V. panels come with a 25 year warranty for 80% output. So expect a 10-15% loss in performance in 20 years. The good news is P.V. panels should last about 50 years and still have an output of 65-75% efficiency. Inverters are expected to last 10-15 years; twenty year extended warranties are also available and is probably a good idea.

pv-performance

So, by the time a photovoltaic system pays you back once for your investment, a Solar Thermal hot water will have paid you back 7 times!

We do recommend photovoltaic systems, but we also recommend that you start with a solar thermal hot water system first.  This way you are able to reap the rewards and get paid back while or before you are ready to install a photovoltaic system.