Updated: August 1, 2023
Application Period Closing Soon
On Oahu, applications for the HECO Battery Bonus Program will be accepted until October 31, 2023, or until the 40MW cap is reached. (As of July 31st, 26.5 MW are enrolled.) Contact a SunPower by Eco Solar System Designer today to get started.
Original Publish Date: February 15, 2023
Save with the HECO Battery Bonus Program:
More reasons why the best solution for your home is a Solar plus Battery system.
Hawaiian Electric (HECO) has exciting news for customers in Oahu: receive a cash incentive to add energy storage to a new or existing rooftop solar system. This program was created to help Hawaii move towards its goal of 100% clean energy by 2045.
- A one-time check up to $850 per kilowatt (kW) committed for those accepted for the first 15 megawatts (MW) on Oahu. $750 per kW for the next 15 MW and $500 per kW for the last 20 MW.
- A monthly capacity bill credit at $5 per kW per month of committed capacity for 10 years.
- A monthly energy bill credit non-Net Energy Metering (NEM) program customers for three years.
Hawaiian Electric is looking to reduce power on the grid during peak demand periods, and these cash incentives provide an easy way for you and the company to save money, reduce pollution, and ensure all Hawaii residents have access to the electricity we need – it’s a true win-win for all!
How the Hawaiian Electric Battery Bonus Program works
The program allows for homeowners with existing Solar systems installed after July 1, 2021
and new Solar systems to add energy storage to participate. Those who sign up are asked to deliver a committed capacity every day for 10 years for two hours during peak electric times between 6 p.m. and 8:30 p.m. Even with these requirements, the incentives are enough to pay for the cost of owning the battery, and customers can commit any amount of kW that their battery can handle (your incentive money is based on how many kW you can commit to).
SunPower Eco Solar Hawaii explains Battery Bonus benefits for existing and new customers
“After we help homeowners go solar, we find that their daily habits change. They start to use more electricity. Maybe they’ve added air conditioning, or have additional family members in their home, or purchased a new electric car. Until recently, homeowners were prohibited from adding on to their solar system.
HECO’s Battery Bonus Program is really exciting because we can get the customer back to zero with their bills! These incentives mean the system pays for itself in half the time.” says Ben Parish, President/Owner of SunPower by Eco Solar Hawaii.
How to get your Oahu Battery Bonus
If you’re ready to add onto your solar investment and save even more while protecting our planet, work with SunPower by Eco Solar to install or upgrade your solar system. Your Contractor Partner will apply for your permits, install and configure the battery. They’ll need to show that your building panels were submitted to lock in your payment. Your Eco Solar system designer can also advise you on the capacity level that makes sense for your battery to maintain throughout the program. You’ll also need to fill out and submit a W-9 form, since these upfront incentive payments do count as income and HECO will report information about them to the IRS.
Once your system is up and running, we will need to supply seven days’ worth of operational data to HECO. Once it’s approved, you can expect your incentive within thirty days!
Parish is excited about the program and its financial and climate benefits for Oahu customers. “It’s really a win-win for all – especially for existing Solar customers and homeowners that want to go Solar. The best energy saving solution is a Solar plus Battery system and these incentives make it easy to save and see your return on your investment even faster!”
Get your Oahu Battery Bonus Now
Don’t delay on getting this great deal for yourself – The battery bonus will only be available for a limited time – until the total enrolled capacity reaches 50 megawatts, or until June 20, 2023.
Ready to save even more on your Solar System with the Battery Bonus Program? Contact SunPower by Eco Solar today to get started.