Hawaii Senate Bill SR147

Hawaii 2024 Regular Session

• Introduced: 3/8/24
• Refer: 3/14/24
• Report Pass: 4/3/24
• Passed: 4/4/24

Caption

Requesting The Department Of Business, Economic Development, And Tourism To Propose Legislation That Establishes Incentives For Firm Renewable Electricity Generation.

Impact

If implemented, the legislation proposed through SR147 could significantly impact Hawaii's energy landscape by promoting new firm renewable energy developments. This would foster competition among energy developers to innovate and invest in reliable renewable technologies. The resolution emphasizes the need for certainty and financial viability in firm renewable generation projects, which could lead to increased stability in the state’s energy market and encourage investment in sustainable sources of electricity generation, ultimately benefiting consumers through lower energy costs and reduced dependence on traditional fossil fuels.

Summary

Senate Resolution 147 (SR147) requests the Department of Business, Economic Development, and Tourism to propose legislation that establishes incentives for firm renewable electricity generation. This initiative is part of Hawaii's broader commitment to achieving a 100% Renewable Portfolio Standard by 2045. The resolution highlights the necessity of reliable renewable energy sources to ensure grid stability and to support utility-scale renewable projects, which are beneficial to both residents and ratepayers. Additionally, SR147 acknowledges the existence of a Renewable Energy Technologies Income Tax Credit that has been in place since 2003 and advocates for modernizing incentives to encompass a wider array of renewable technologies beyond just solar power.

Sentiment

The overall sentiment around SR147 appears to be positive, reflecting a shared commitment to enhancing renewable energy infrastructure in Hawaii. Supporters view the resolution as a critical step toward modernizing energy policies and meeting ambitious sustainability goals. The move is seen as a proactive approach to address climate change concerns and support local economies through green technology investments. However, discussions may bring out contention regarding the balance between incentivizing development and ensuring that sufficient regulatory oversight persists to protect the environment and community interests.

Contention

Noteworthy points of contention may arise concerning the specifics of what constitutes 'firm renewable electricity generation' and how the proposed incentives might be structured. Stakeholders might debate the effectiveness of various incentivization strategies, such as tax credits or subsidies, and the implications of their long-term impacts on both the environment and the economy. Additionally, as with any renewable energy initiative, there may be concerns from certain groups about potential impacts on land use, local ecosystems, and existing energy providers adjusting to a more competitive market environment.