Zero Down Solar in Hawaii: How Power Purchase Agreements Work
What is a Power Purchase Agreement (PPA)?
A Power Purchase Agreement (PPA) lets you go solar without paying anything upfront. Instead of buying panels, you agree to purchase the electricity they produce at a fixed rate— lower than your current HECO rate. The solar provider installs, owns, and maintains the system, while you enjoy immediate savings and predictable energy costs. For Hawaii homeowners facing some of the nation’s highest utility prices, a PPA offers a practical, worry-free path to clean energy and long-term savings.
Why Choose a PPA Instead of Buying Solar Panels?
A solar PPA provides many of the same benefits as system ownership—lower energy bills, renewable power, and energy independence—but without the large upfront investment or long-term maintenance costs.
Zero Upfront Investment
A PPA allows you to install solar panels and battery storage at no cost. It’s an ideal solution for homeowners who want the financial benefits of solar but prefer not to spend tens of thousands of dollars on equipment and installation. The provider covers all installation and hardware expenses.
Immediate Savings
Most Hawaii homeowners save 20–40% on electricity from day one. For example, a household with a $500 monthly HECO bill could pay around $300 under a solar PPA—saving about $200 per month, $2,400 per year, and roughly $60,000 over 25 years
Predictable Energy Costs
With a PPA, you lock in a stable per-kilowatt-hour rate for up to 25 years. This shields you from HECO’s typical annual rate increases of 5–10%. Knowing exactly what you’ll pay for power helps with long-term budgeting and protects you from future price volatility.
Tax Credit Savings Made Simple
With a PPA, you can still benefit from the full 30% Federal Investment Tax Credit (ITC) and the additional 10% Domestic Content Bonus. Our partner, GoodLeap, as the system owner, handles the tax credit process and applies the savings directly to your agreement. That means you get the financial advantage without the paperwork, income requirements, or tax filing complexities.
Full-Service Maintenance and Support
Because the provider owns the system, they also handle everything from performance monitoring to repairs and warranties for the entire term. You get guaranteed uptime and professional servicing without lifting a finger.
GoodLeap’s Power Purchase Agreement (PPA)
GoodLeap is a nationally recognized clean energy financing company that specializes in making sustainable home upgrades more accessible and affordable. As our trusted PPA partner, GoodLeap provides Hawaii homeowners with a seamless solar experience—offering $0-down installations, fixed energy rates well below utility prices, and full system ownership, maintenance, and monitoring for 25 years. GoodLeap’s PPA follows a straightforward structure designed for transparency and ease.
Ownership
GoodLeap owns the system and is responsible for installation, monitoring, and any necessary maintenance. You simply buy the power it generates.
Payments
Your payment is based on the amount of electricity the system produces—measured in kilowatt-hours (kWh). We offer a fixed-rate plan that stays consistent over 25 years, whereas some solar companies offer an escalating-rate plan that increases each year.
End-of-Term Options
When your agreement ends, you have three choices:
- Renew the agreement for continued savings.
- Purchase the system at fair market value (typically 10–20% of its original cost).
- Have it removed at no cost.
This flexibility ensures your solar plan evolves with your home and energy needs.
Common Questions About PPAs
You can renew, purchase, or remove the system—whatever fits your situation best.
Will this affect my ability to sell my home?
No. Most buyers see solar as a selling point, and the PPA can be transferred to the new homeowner.
Can I buy the system later?
Yes — you can buy the system later, typically at its fair market value (around 10–20% of the original cost), once your Power Purchase Agreement term ends.
What if I want to increase my system size later?
Yes, we allow system expansion to meet changing household energy demands.
How do I qualify for a PPA?
Most homeowners with suitable roof space and good credit qualify. A site visit will confirm your eligibility.
Power Purchase Agreement: Next Steps
If a solar PPA sounds like the right fit for your Hawaii home, getting started is simple:
- Schedule a free consultation with Independent Energy Hawaii to evaluate your home’s solar potential and savings.
- Design your custom system with our solar experts, including storage and rate options.
- Install and start saving—the process typically takes 4–8 weeks from approval to activation.
Ready to take control of your energy costs with $0 down solar? Contact Independent Energy Hawaii today!
