03-22-2015, 07:28 AM
The average residential rate is now 27 cents per kilowatt-hour, when it was 42 cents/kw-hr a few months ago. That is almost a 35% decrease. This is the result of shale oil fracking on the mainland, showing that the cost of electricity in Hawaii is still mostly from burning fossil fuel oil.
http://www.hawaiianelectric.com/vcmconte...esSchR.pdf
No longer can it be said that Hawaii island has the highest electric rate in the country. It also means solar will be more expensive than utility, a net metered system never paying itself off. Hawaii island should use this time to wean off oil more, which they are doing with increased geothermal, biomass incineration (where fly ash is now a resource), a private waste-to-energy plant and OTEC. All the investments are paying off, the artificial tax of ACC is phasing out. Electric rates are going to start going down and staying down. The cost of electricity is a major factor in the cost of living.
"Aloha also means goodbye. Aloha!"
http://www.hawaiianelectric.com/vcmconte...esSchR.pdf
No longer can it be said that Hawaii island has the highest electric rate in the country. It also means solar will be more expensive than utility, a net metered system never paying itself off. Hawaii island should use this time to wean off oil more, which they are doing with increased geothermal, biomass incineration (where fly ash is now a resource), a private waste-to-energy plant and OTEC. All the investments are paying off, the artificial tax of ACC is phasing out. Electric rates are going to start going down and staying down. The cost of electricity is a major factor in the cost of living.
"Aloha also means goodbye. Aloha!"
*Japanese tourist on bus through Pahoa, "Is this still America?*