STAND. COM. REP. NO. 2468
RE: S.B. No. 2564
Honorable Ronald D. Kouchi
President of the Senate
Thirtieth State Legislature
Regular Session of 2020
State of Hawaii
Your Committee on Energy, Economic Development, and Tourism, to which was referred S.B. No. 2564 entitled:
"A BILL FOR AN ACT RELATING TO CLEAN ENERGY FINANCING,"
begs leave to report as follows:
The purpose and intent of this measure is to:
(1) Create the clean energy revolving loan fund;
(2) Repeal the building energy efficiency revolving loan fund; and
(3) Appropriate funds from the clean energy revolving loan fund to make clean energy investment loans or other approved uses.
Your Committee received testimony in support of this measure from the Department of Commerce and Consumer Affairs; Hawaii State Energy Office; Hawaii Green Infrastructure Authority; Climate Protectors Coalition; Environmental Caucus of the Democratic Party of Hawaii; Our Revolution Hawaii; We Are One, Inc; 350Hawaii; Blue Planet Foundation; Imua Alliance; and fourteen individuals. Your Committee received comments on this measure from the Department of Budget and Finance.
Your Committee finds that due to the State's high energy costs, the ability of ratepayers to support broad areas of the clean energy technology market are extremely limited. Attracting and leveraging private capital with limited public funds in a sustainable manner is critical to support Hawaii's evolving energy market and provide affordable energy options for all ratepayers. This measure will assist in the expansion of Hawaii's renewable energy supply by providing a more flexible source of funding that does not rely on ratepayer funds for programs to finance a broader range of clean energy technology.
Your Committee has amended this measure by:
(1) Clarifying that the fees collected by the Hawaii Green Infrastructure Authority do not include monies collected as a result of tariffs approved by the Public Utilities Commission or monies meant for repaying the public benefit fee;
(2) Changing the source of funding for the clean energy revolving loan fund from the energy security special fund to the general fund; and
(3) Making technical, nonsubstantive amendments for the purposes of clarity and consistency.
As affirmed by the record of votes of the members of your Committee on Energy, Economic Development, and Tourism that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2564, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 2564, S.D. 1, and be referred to your Committee on Ways and Means.
Respectfully submitted on behalf of the members of the Committee on Energy, Economic Development, and Tourism,
GLENN WAKAI, Chair