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TOU Rate Structure

Solar ROI for Hawaiian Electric (HECO) Customers

Hawaiian Electric (HECO) charges an average of $39.8¢/kWh. Peak rates reach $52.0¢/kWh with off-peak at $25.0¢/kWh, creating strong battery arbitrage value. A 7 kW solar system produces a $68,203 NPV over 25 years.

$10,680
Net System Cost
$68,203
25-Year NPV
3 years
Payback Period
$0.107/kWh
Solar LCOE

Hawaiian Electric (HECO) Rate Structure

ParameterRate
Average residential rate$39.8¢/kWh
Peak rate$52.0¢/kWh
Off-peak rate$25.0¢/kWh
Peak/off-peak spread$27.0¢/kWh
Rate structureTOU
Export credit policyCustomer Grid-Supply export at avoided cost

Solar System Economics

A 7 kW solar system for a Hawaiian Electric (HECO) customer costs $22,400 before incentives. The 30% federal ITC saves $6,720, and the Hawaii state credit adds $5,000. The net out-of-pocket cost is $10,680.

At Hawaiian Electric (HECO)'s $39.8¢/kWh average rate, the system saves $4,458 in year one, producing 11,200 kWh. The solar LCOE of $0.107/kWh is 73% below Hawaiian Electric (HECO)'s current rate.

Battery Storage for Hawaiian Electric (HECO) Customers

$8,400
Battery Net Cost
$2
Daily Arbitrage
$898
Annual Arbitrage
$1,885
25-Year Battery NPV

With Hawaiian Electric (HECO)'s TOU rate structure, a 13.5 kWh battery generates $898/year in TOU arbitrage by storing solar during off-peak hours and discharging during peak. The 25-year NPV of $1,885 makes battery storage a strong addition to solar for Hawaiian Electric (HECO) customers.

FAQ: Solar for Hawaiian Electric (HECO) Customers

How much can Hawaiian Electric (HECO) customers save with solar?
A typical 7 kW solar system saves Hawaiian Electric (HECO) customers approximately $4,458/year in electricity costs. Over 25 years, the NPV of savings after system costs is $68,203.
What is Hawaiian Electric (HECO)'s rate structure?
Hawaiian Electric (HECO) uses a time-of-use (TOU) rate structure with peak rates of $52.0¢/kWh and off-peak rates of $25.0¢/kWh. The $27.0¢/kWh peak/off-peak spread creates significant value for battery storage — TOU arbitrage alone is worth $898/year.
Does Hawaiian Electric (HECO) offer net metering?
Customer Grid-Supply export at avoided cost
Should Hawaiian Electric (HECO) customers add battery storage?
Yes — for Hawaiian Electric (HECO) customers with TOU rates, a 13.5 kWh battery adds $1,885 in NPV through TOU arbitrage. Daily arbitrage value is $2.

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