Oʻahu and Hawaiʻi Island and Maui County customers, Hawaii · Loan
Hot Water, Cool Rates Financing Program
Run by Hawaii Energy
Hawaii Energy pays a participating lender up to $2,750 to buy down the interest on a loan for a new solar water heating system, so the lender can offer a zero or low interest rate depending on your credit.
Amounts
How much you get
Hawaii Energy provides up to $2,750 to a participating lender to buy down the interest on your loan; the lender then sets a zero or low interest rate depending on your credit and the lender. The loan amount and terms come from the lender.
Eligibility
Do I qualify?
You need to meet all 3 of these.
Residential electric customers of Hawaiian Electric on Oʻahu, Hawaiʻi Island, Maui, Molokaʻi and Lānaʻi. Kauaʻi (KIUC) customers aren't eligible.
The work must be done by a participating Hawaii Energy Clean Energy Ally contractor.
What to doPick a contractor from Hawaii Energy's Clean Energy Ally directory (hawaiienergy.com/clean-energy-allies) before you book the work. Hawaii Energy - The Cost of a Solar Water Heating System (Hot Water, Cool Rates) Get a quote from a contractor
The loan comes from a participating lender, and the rate depends on your credit and the lender.
Equipment
What equipment counts
Applying
How to apply
Follow these steps.
- Choose a participating Clean Energy Ally contractor for the solar water heater.
- Contact a participating lender in Hawaii, Honolulu or Maui county.
The lender explains the loan terms; Hawaii Energy's incentive buys down the interest.
- Close the loan and have the system installed.
Forms and instructionsHawaii Energy - Solar Water Heating · Hawaii Energy - Residential Rebates
Stacking
Use it with
Can’t be combined withHawaii Energy Solar Water Heating Instant Rebate
Your address
Next steps
Check that it covers your address. Then, if you want, ask for a contractor quote.
Is it available at your address?
Before anything else
Your quote request is in If a contractor we work with serves your ZIP, they can contact you. We take one request per person; contact us to change it.
Get an email if this program changes
We'll write if its amount, status or deadline changes. Nothing else.
FAQ
Questions
How much does Hot Water, Cool Rates Financing Program pay?
Up to $2,750 loan.
Do I need to be a Oʻahu, Hawaiʻi Island or Maui County customer?
Yes. It’s only for homes in Oʻahu and Hawaiʻi Island and Maui County customers, Hawaii. See Do I qualify for the details.
Do I have to use a contractor?
Yes. The work must be done by a participating Hawaii Energy Clean Energy Ally contractor.
Is it still available?
Yes. It was open when we last checked, on October 27, 2026.
Plain words
Words used on this page
References
Sources
This page is built from these official pages, run by the program itself.
- Hawaii Energy - The Cost of a Solar Water Heating System (Hot Water, Cool Rates)
- Hawaii Energy - Solar Water Heating
- Hawaii Energy - Residential Rebates
When one of these pages changes, we re-check this page against it.
Nearby
More in Hawaii
Oʻahu and Maui County and Hawaiʻi Island customers, Hawaii
GEM$ Clean Energy Loan Program: Homeowner-Owned Solar + Storage
Up to $10,000
On-bill financing from Hawaiʻi's green bank for low- and moderate-income homeowners installing solar PV with battery storage: up to 25 years at a fixed 5.5%, repaid on your Hawaiian Electric bill, plus a subsidy of $10,000 or $5,000 depending on income.
Checked Oct 27, 2026
Oʻahu and Maui County and Hawaiʻi Island customers, Hawaii
GEM$ On-Bill Financing Program: Landlord/Tenant
Work done at no cost
Hawaiʻi's green bank finances solar for rental homes with no upfront cost to low- and moderate-income renters: up to 25 years at a fixed 5.5%, paid on the tenant's Hawaiian Electric bill. The charge stays with the meter, so renters stop paying when they move out.
Checked Oct 27, 2026
Oʻahu and Hawaiʻi Island and Maui County customers, Hawaii
Hawaii Energy Solar Water Heater Tune-Up Instant Rebate
Up to $325
Up to $325 off a tune-up of a residential solar water heating system at least 5 years old, taken off the invoice by a participating Hawaii Energy contractor.
Checked Oct 27, 2026