COM. REP. NO. 315
RE: H.B. No. 558
Honorable Scott K. Saiki
Speaker, House of Representatives
Thirty-First State Legislature
Regular Session of 2021
State of Hawaii
Your Committee on Consumer Protection & Commerce, to which was referred H.B. No. 558, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO CLEAN ENERGY FINANCING,"
begs leave to report as follows:
(1) Create the Clean Energy and Energy Efficiency Revolving Loan Fund within the Hawaii Green Infrastructure Special Fund;
(2) Expand the objective of the $50,000,000 sub-fund to allow state agencies to finance their purchase options under existing energy performance contracts and power purchase agreements to further reduce and stabilize future energy costs;
(3) Repeal the Building Energy Efficiency Revolving Loan Fund; and
(4) Appropriate funds out of the Clean Energy and Energy Efficiency Revolving Loan Fund to make clean energy investment loans or for other approved uses.
Your Committee received testimony in support of this measure from Hawaii Green Infrastructure Authority, Hawaii State Energy Office, County of Kauai, Blue Planet Foundation, and one individual. Your Committee received comments on this measure from the Department of Budget and Finance, Department of Commerce and Consumer Affairs, and Public Utilities Commission.
Committee finds that a significant barrier to clean energy adoption has been
the unavailability of flexible financing and low-cost capital. Building Hawaii's clean energy infrastructure
at the lowest possible cost is vital to reach the State's clean energy goals by
2045. Public funds must be used in a
sustainable manner to simultaneously spark customer demand for clean energy
technology and attract private investment in green technology.
As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 558, H.D. 1, and recommends that it be referred to your Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,
AARON LING JOHANSON, Chair