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Hawaii State FCU Offers Photovoltaic Loans with 24 Months of Zero Interest and Zero Payments

May 28, 2019

HONOLULU — As Hawaii’s residential electricity rates continue to rank among the highest in the nation, Hawaii State Federal Credit Union (Hawaii State FCU), Hawaii’s largest credit union lender with more than 108,000 members on Oahu and Maui, is offering photovoltaic (PV) loans with no interest accruing and no payments due during the first 24 months.

“Installing solar panels is a smart and effective way for homeowners to maximize energy savings while increasing the value of their home,” said Andrew Rosen, president and CEO of Hawaii State FCU. “By offering one of the most attractive PV loan programs on the market, we hope to help local families afford solar panels while contributing to Hawaii’s 100 percent clean energy goal. Residents may also be able to take advantage of tax credits at the state and federal level to further their savings.”

Hawaii State FCU’s PV loan program offers zero accrued interest and no payments for the first 24 months. After the first 24 months, the interest rate starts as low as 7.25 percent. The maximum loan amount is $75,000 and is subject to approval.*

Possible tax credits on PV expenditures may be available, including a state tax credit of 35 percent. The federal solar tax credit of 30 percent may be available through the end of the year and is set to be reduced in 2020. A tax advisor can provide further information regarding solar tax credits.

For more information on Hawaii State FCU’s PV loan program interest rates and payments, and for a list of participating solar contractors, please visit


* The blended APR (combining the first 24 months 0% interest rate and a 7.25% interest rate for the following six years) for the PV loans start at 4.267%, and may be higher based on your creditworthiness. For example, a loan of $30,000 with a 7.25% interest rate and a blended APR of 4.267% will have:  0 payments for the first 24 months followed by 72 monthly payments of $515.08, with total interest of $7,085.70.

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