The Solar Water Heater Rebate is offered through Hawaii Energy, a public benefit fund administered by a third-party. The incentive is a one-time $750 rebate for residents and companies that install a solar water heating system on their building. It is limited to the islands of Oahu, Hawaii, Maui, Lanai and Molokai. The rebate itself is applied by a participating contractor at time of sale. The program maintains a list of participating providers at its website.

The rebate was instituted in 1996 and has helped more than 50,000 solar hot water systems get installed on the Hawaiian islands of Oahu, Maui, Lanai and Molokai. The program was managed by the utilities, but in July 2009, it was transferred to the Hawaii Energy. As of Jan. 1, 2010, newly constructed homes were no longer able to qualify for the rebate. Now homeowners can choose to participate in the interest rate buy-down program instead of receiving the rebate. Through this program, Hawaii Energy pays $1,000 to participating financial institutions, reducing the cost of financing to the homeowner.