Energy Advantage Program FAQs
- Is this really low cost?
- Where does Hawaii Energy's money come from?
- Do I have any financial or other obligations?
- Which contractor should I choose? Do I have to use the contractor that approached me?
- How do I get more information on making my business more energy-efficient?
1. Is it really low cost?
Yes! Hawaii Energy pays participating contractors for their work based on the amount of energy you save with your new lighting, and they pass these savings on to you. The amount you pay is based on your locations’ needs and the products you select. For some participants, this may result in a free retrofit; others will require a small co-pay. Regardless, you will receive your retrofit at a much lower cost than if you were to purchase everything on your own, and in most cases the amount you save on energy will pay back your costs in less than one year.
All retrofits are subject to availability of funds and may change without notice at any time. Please note that a current W-9 form will be collected and 1099 tax forms will be issued for all retrofits, which could be potentially taxable.p>
2. Where does Hawaii Energy's money come from?
Essentially, you. A fraction of every electricity bill (on Hawai‘i, Lāna‘i, Maui, Moloka‘i and O‘ahu) goes toward funding the Hawai‘i Energy program and we work to give that money back to residents and businesses in the form of financial assistance for energy efficiency projects as well as community education and training programs. Contact an Energy Advisor to learn more about our program and to discover new ways to save energy.
3. Do I have any financial or other obligations?
- You are required to enter into a contract with an Energy Advantage Participating Contractor for the retrofit (even though the retrofit may be substantially paid for by Hawaii Energy). The Participating Contractor you select will provide an application and commitment letter for your review and signature. These documents will include provisions such as liability, insurance and warranty.
- You may be required to claim the Hawai‘i Energy subsidy towards the lighting retrofit as taxable income. As part of the incentive application process, Hawai‘i Energy is required to comply with IRS reporting requirements. In order for the program to meet these requirements, you will need to submit a current IRS form W-9* with your application. You may receive a 1099 form from Hawai‘i Energy if the total rebate/incentive you received is $600 or more in a calendar year. Please consult your tax advisor for advice regarding the taxability of any rebate/incentive received.
- Your only other obligation may be to submit a brief customer satisfaction survey after the installation is complete. If prompted, we will email you the survey (that is why email addresses are required on the application). *A Form W-9 requester [Hawai‘i Energy] who is required to file an information return with the IRS must obtain your correct taxpayer identification number (TIN) which may be your social security number (SSN), individual taxpayer identification number (ITIN), adoption taxpayer identification number (ATIN), or employer identification number (EIN), to report on an information return the amount paid to you, or other amount reportable on an information return.
4. Which contractor should I choose? Do I have to use the contractor that approached me?
You are not required to use the contractor that approached you, however, that is often the quickest option. Hawai‘i Energy provides a list of Participating Contractors who are authorized by the Program to offer this discount. We encourage you to independently research the Participating Contractors and find the best fit for your business. This list is subject to change as more Participating Contractors join the program.
5. How do I get more information on making my business more energy efficient?
Please contact one of our Energy Advisors who can help you find the best solutions for your business needs. You can call us on O‘ahu at 839-8880 or toll-free at 1-877-231-8222 on the neighbor islands.