Stay Informed!

By Kim Pate on 10/13/2011 @ 12:15 PM

Tags: Housing and Homeownership

EDITOR'S NOTE: The following is a press release that was issued by the Council for Native Hawaiian Advancement.

Honolulu, Hawaii – The Council for Native Hawaiian Advancement (CNHA) Board of Directors took action this summer to approve the expansion of its solar water loan product to install photo voltaic (PV) systems on Hawaiian homes.

“Over the last 2 years, we’ve assisted close to 200 families to install solar water systems to cut utility costs,” said Rosalee Puaoi, CNHA Loan Fund Manager. “It’s a natural next step to help families go to the next level of further reducing monthly costs by installing PV on their homes.”

Solar water panels strictly heat water, which represents between 25% and 40% of a household utility bill. PV solar panels go further, by converting solar energy to electricity, reducing household energy costs even more.

CNHA’s solar water program provides capital of up to $6,500 and, with the expansion of the product, will provide up to $15,000 to install photo voltaic solar panels.

“It’s really one of the best investments a homeowner can make,” said Lilia Kapuniai, CNHA Vice President. “The savings each month gives families a relief and an increase in disposable income.”

The PV product is structured to have $172 monthly payments, either entirely or mostly covered by the utility cost savings generated by the panels. On top of that, homeowners are able to claim up to 65% of the cost of the system, worth thousands of dollars.

“Back in 2008 and 2009, community leaders consistently told us families were struggling in the recession and identified solar as a meaningful way to increase their monthly disposable income immediately,” Kapuniai continued. “It’s just one tool that we can give families to weather the down economy – it’s not a question of 'if' families can afford to make this type of home improvement, the data is clear, our community cannot afford to not make these improvements.”

CNHA hopes that families take advantage of not only the obvious cost saving that is generated from installing photovoltaic systems, but also the long term impacts of not relying on fossil fuels to power Hawaii. CNHA is a national network of Native Hawaiian organizations, providing a strong voice on public policy, operating a community loan fund, delivering capacity building and leadership development services, and promoting philanthropy to cultural practitioners through its Hawaiian Way Fund.

For more information visit www.hawaiiancouncil.org or www.hawaiianwayfund.org.

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