MEDIA RELEASE

HONOLULU (May 24, 2011) – Hawaii Energy, the state energy conservation and efficiency program, will be ending its $1,000 solar water heating incentive for cash purchased systems this Wednesday as funds have been exhausted.

Hawaii Energy increased the solar water heating incentive to $1,500 in March thanks to American Recovery and Reinvestment Act (ARRA) funds directed by the Department of Business, Economic Development and Tourism (DBEDT), State Energy Office. One month later, the funds were depleted and program officials reallocated additional ARRA funds to continue the incentive with $1,000.

“The use of solar water heaters is one of the most effective ways of reducing the residential electricity consumption, and we are very pleased that ARRA funds were available for this program,” said Estrella Seese, DBEDT’s Acting Energy Program Administrator.

Residents who wish to finance their solar water heating systems may still take advantage of the Hot Water, Cool Rates (solar loan interest buy down) offering. For more information, please visit http://hawaiienergy.com/94/hot-water-cool-rates. For cash purchased solar water heating systems, Hawaii Energy will immediately be taking a waitlist for its next program year beginning July 1, 2011 upon approval of program funding by the Hawaii Public Utilities Commission. State and federal tax credits are still available.

Typical single family households installing solar water heating systems will save between $587 to $849 per year in electricity costs, and the equivalent to 150 gallons of fossil fuel per year. The savings with solar water heating systems will continue to rise as oil prices increase.