Get paid to go green

Take advantage of the Hawaiian Electric (HECO) Battery Bonus Program and help Hawaii move towards a greener tomorrow with 100% clean energy by 2045 (for HECO customers on Oahu only)

Whether you already have a residential clean energy system, or looking to get one installed, here’s how to get started to take advantage of HECO’s Battery Bonus Program:

  1. Select and contact an American Savings Bank (ASB) participating solar contractor.

  2. If you need financing for a residential clean energy system and/or battery, learn more or apply for an ASB Clean Energy Loan.

  3. Work with your ASB participating solar contractor to get your HECO cash incentive.

couple sitting outside
 

What is the HECO Battery Bonus Program?

Now through June 20, 2023 (or until the cap is reached), Hawaiian Electric will pay a cash incentive for customers on Oahu to add energy storage (battery) to an existing or new rooftop solar system. There's no limit on the size of an indvidual battery, plus you’re still eligible for the federal (26%) and state (35%) tax credits!

This one-time incentive will help move Hawaii toward the goal of 100% clean energy by 2045.

Learn more about the program

LEARN MORE ABOUT
CLEAN ENERGY LOANS

At ASB, our goal is to make purchasing and installing a clean energy system for Hawaii homeowners easy. Our Clean Energy Loan is designed to make it more affordable for you to add solar panels and other green systems to your property. LEARN MORE

GO GREEN WITH AN
ASB CLEAN ENERGY LOAN

Ready to make your dream of residential solar power a reality? First, select and contact a solar contractor from the list below. Then apply for an ASB Clean Energy Loan1 from $1,500 to $70,000 with 0.00% APR for the initial 24 months.APPLY NOW

Download Application

Common Questions:

Participating contractors are listed alphabetically and are exclusively for the Clean Energy Loan. Participation is subject to change without notice, please check with contractor on eligible residential clean energy systems. At loan closing, 50% of the loan amount is disbursed to your contractor, and the remaining 50% is disbursed to your ASB checking account for you to pay your contractor according to the terms of your agreement with it. If you don’t already have an ASB checking account, you must establish one to receive the loan funds.

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  1. The Clean Energy Loan (loan program) is subject to borrower qualification and underwriting guidelines. The initial interest rate is 0.00% for the 24-month initial period followed by a fixed term and rate for 96 months. Loan program is subject to change or cancellation without notice. Loan terms, interest rate and APR (annual percentage rate) for qualified borrower(s) will be based on borrower credit worthiness. 50% of the loan amount is disbursed to the borrower’s ASB checking account and 50% of the loan amount is disbursed to the contractor at loan closing. Based on a loan amount of $25,000 and an initial term (24-months) at an interest rate of 0%, there are no monthly payments ($0.00) during the first 6 months of the initial period followed by monthly principal-only payments from $125.00 which is equal to 0.50% of the loan amount in month 7 to 24 (18 months in the initial period). Then, 96 months of fixed principal and interest payments of $321.50 (based on a fixed interest rate of 7.99%). The interest rate used in the example is as of 10/01/2021 and results in a 5.069% APR. Please refer to the current Loan Rate sheet or call us for current rates. Available only for financing the purchase, installation, and other eligible costs associated with the purchase/installation of a qualified residential clean energy system from an ASB participating contractor. Qualified systems are residential photovoltaic (PV), solar water heater, solar PV water heating systems, solar air conditioning, and battery backup/storage systems. Rates are subject to change at any time without prior notice.

    ASB does not perform due diligence or does not make representations or warranties on third-party, participating or non-participating contractors, and qualified residential clean energy systems. Borrower should take reasonable steps to review third parties and systems.