Solar Facts

Solar Energy Fast Facts

• Solar accounted for 30% of all new capacity installed in Q1 2017
• Solar prices dropped 19% over the last 12 months
• There are now nearly 1.4 million solar installations in the U.S.

Download the Hawaii State Energy Office’s last publication here.

Why Solar?

#1 Drastically reduce or even eliminate your electric bills

#2 Earn a great return on your investment

Solar panels aren’t an expense – they’re one of the best ways to invest, with returns rivaling those of more traditional investments like stocks and bonds. Thanks to substantial electricity bill savings, the average American homeowner pays off their solar panel system in seven to eight years and sees an ROI of 20 percent or more.

#3 Protect against rising energy costs

#4 Increase your property value

#5 Create jobs & help your local economy

According to The Solar Foundation, the solar industry added jobs at a rate nearly 12 times faster than the overall U.S. economy in 2015, representing 1.2 percent of all jobs in the country. This growth is expected to continue. Because solar-related jobs tend to be higher paying and cannot be outsourced, they are a significant contributor to the U.S. economy.

#6 Protect the environment

Solar is a great way to reduce your carbon footprint. Buildings are responsible for 38 percent of all carbon emissions in the U.S., and going solar can significantly decrease that number. A typical residential solar panel system will eliminate three to four tons of carbon emissions each year—the equivalent of planting over 100 trees annually.

#7 Demonstrate your commitment to sustainability