Cash Incentive to Add Energy Storage to an Existing or New Rooftop Solar System
Hawaiian Electric will pay a cash incentive for customers on Oahu to add energy storage (a battery) to an existing or new rooftop solar system. This one-time incentive will help move Hawaii toward our goal of 100% clean energy by 2045 and add more renewable resources to the grid in the short-term when the AES coal-fired plant is retired in September 2022.
The Public Utilities Commission has capped the program at a total 50MW supplied from storage.
- Customers accepted in the program for the first 15 megawatts of committed capacity will receive $850 per kilowatt. (For example, 5 kilowatts would yield a $4,250 payment.) Customer must fulfill the obligation discussed below to receive the full amount.
- Customers who sign up for the next 15 megawatts of committed capacity will receive $750 per kilowatt.
- Customers who sign up for the last 20 megawatts of committed capacity will receive $500 per kilowatt.
Committed capacity is the amount of kW discharged from battery for 2 hours during the window of 6 - 8 p.m. The committed capacity determines incentive, for example, a 15kWh battery can commit 5kW or 10kWh over 2 hours, therefore, the incentive would be $850 x 5kW= $4,250, if submitted within the first 15MW group.
Customers who wish to participate with an existing solar system and are presently enrolled in a customer energy program (such as Net Energy Metering, Customer Grid Supply, or others) will continue to receive full benefits from these programs. A customer must install a battery of any size, and may add up to 5 kW under existing programs. Existing customers are customers that have received Permission to Operate before 7/1/2021.
The owner of the solar-plus-storage system will receive the incentive. That can be the residential or commercial customer owning the system or a company that leases the system to the homeowner or business.
This incentive payment is considered income. Hawaiian Electric will provide participants with tax forms and report information to the IRS and Hawaii Department of Taxation. Hawaiian Electric cannot offer tax advice. Consult a tax preparer with concerns about individual circumstances. In some cases, federal tax credits may be available.
More information and updates: hawaiianelectric.com/batterybonus
