Time is running out quickly and the time to sign up for solar is now!
Hawaiian Electric Companies (HECO) net energy metering (NEM) program, which credits rooftop solar customers the full retail value of electricity per kWh, will be retiring and replaced by the new Transitional Distributed Generation (TDG) Program upon approval by the Hawaiʻi State Public Utilities Commission (PUC). The TDG plan will credit customers for the energy exported to the grid based on the sum of the Base Fuel Energy Charge, a per kWh figure derived from the price of the fuel used to power the islands, plus the Energy Cost Adjustment, which allows each utility company to increase or decrease its base charge due to the changes in fuel prices and the cost of electricity bought from independent power producers. The TDG Plan is currently set at $.15/kWh, which means less savings for solar customers who sign up for solar after NEM ends.
Any customer currently in the NEM queue will remain in the NEM program and will be grandfathered in and HECO will continue to review NEM applications until the PUC issues a decision. With this being said, the NEM program is ending within the coming weeks and capacity for each island is filling up quickly. If you are thinking about getting solar, the time is now!
Call us (808) 236-1110 or contact us here to see how we can help you!