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Solar Water Heating Loans

"Excellent service with very friendly and helpful staff!"

- Rosemary


A special loan to purchase and install a solar water heating system

Why get a Solar Water Heating loan from HFS?

Save money and the environment! When you install a solar water heater you not only save up to 40% on your monthly electric bill, but you’ll be an environmentally conscious homeowner by using the sun to warm your water. Explore all the features


0.00% APR1


Terms up to 60 months


Borrow from $5,000 - $10,000


No closing costs


No down payment


No prepayment penalty

The process was easy and I would recommend HFS to my family and friends.

— Junior

Additional info


Find an approved contractor

Hawai’i Energy is a ratepayer-funded conservation and efficiency program administered by SAIC under contract with the Hawai’i Public Utilities Commission, serving the islands of Hawai’i, Lanai, Maui, Molokai, and Oahu.

Frequently Asked Questions

  • Unfortunately a Solar Water Heating Loan will not work for PV. However, Personal Loans or Home Equity Lines of Credit are available to take care of your PV needs.

  • Solar water heating systems cost an average of $6,600 for an 80 gallon system to $7,200 for a 120 gallon system. With an HFS Solar Water Heating loan this will cost between $110 and $120 per month for five years. If you use all the available tax credits, you can pay off your loan in as little as two years.

  • You can save up to 40% off your monthly energy costs by installing a solar water heating system.

  • Complete our easy online application or call us at 930-1400 to set-up an appointment at any of our offices.

  • Although all our loan programs can change at any time, the HFS Solar Water Heating Loan program currently has no expiration date. This program is offered in partnership with Hawaii Energy.

  • Hawaii Energy is a ratepayer-funded conservation and efficiency program administered by Science Applications International Corporation (SAIC) under contract with the Hawaii Public Utilities Commission, serving the islands of Hawaii, Lanai, Maui, Molokai and Oahu. They are here to help us save money on our electric bills and reduce our state’s dependence on imported oil.

  • Get started today by contacting a participating contractor to discuss the size, features, and cost of the solar water heating system that’s right for you. You may wish to contact several contractors as prices and system features may vary. Your solar water heating contractor will help you complete and submit a Hawaii Energy Interest Buy-Down Program Application. At that point you are then ready to apply for the HFS Solar Water Heating Loan Program.

  • A current list of approved contractors is maintained by Hawaii Energy.


Drop us a message anytime with your questions or schedule an appointment with a loan officer.

  • 1APR = Annual Percentage Rate. 0.00% APR is effective 05/01/2013 and applies to personal loans for the purchase and installation of a solar water heating system from an approved contractor participating in Hawaii Energy’s Solar Water Heating Loan Interest Buy-Down Program. $5,000 minimum, $10,000 maximum loan amount with terms up to five years. Estimated monthly payment for $7,000 at 0.00% APR for 60 months will be $116.67. All loans subject to HFS Federal Credit Union loan policies and subject to credit approval. Refinances of existing HFS Federal Credit Union loans do not qualify for this offer. Offered in conjunction with Hawai’i Energy, not related to HFS Federal Credit Union. Loan program is subject to change and may end at any time.

    2Consult with your tax advisor on federal and state tax credits.
    Membership with the Credit Union is required and open to all who live, work, worship, attend school, volunteer or participate in associations headquartered on the island of Hawai’i. A minimum opening balance of $50.00 is required to open a Savings Account.