Hawaii House Bill HB1172

Hawaii 2022 Regular Session

• Introduced: 1/27/21
• Refer: 2/1/21

Caption

Relating To The Department Of Business, Economic Development, And Tourism.

Impact

Implemented changes through HB 1172 would streamline the lending process for clean energy projects, moving from a complicated bond system to a straightforward revolving loan structure. This approach is expected to be more efficient and responsive to the immediate financial needs of state agencies and other stakeholders. By lowering the financial barriers to accessing clean energy technologies, the bill seeks to stimulate an increase in renewable energy technologies adoption, reduce state dependence on fossil fuels, and potentially lower energy costs over time.

Summary

House Bill 1172 aims to significantly enhance Hawaii's investment in clean energy technology and infrastructure, addressing the state's energy self-sufficiency and security goals. This bill establishes a clean energy and energy efficiency revolving loan fund, repeals the existing building energy efficiency revolving loan fund, and allows the funds from the green infrastructure special fund to finance solar and clean energy equipment, including electric vehicles and charging systems. By allocating up to $50 million as a revolving line of credit for state agencies, the bill encourages a myriad of stakeholders to engage in sustainable energy practices and developments.

Contention

While the bill presents several benefits, it has faced debates regarding its potential impact on financial oversight and the role of the Hawaii Green Infrastructure Authority. Critics express concerns that the expedited lending terms may bypass necessary regulatory scrutiny, putting public funds at risk. Advocates argue that the pervasive challenges to Hawaii’s energy resiliency during the COVID-19 pandemic necessitate swift action to bolster the state’s clean energy transition and address economic shortfalls. As the bill progresses, these discussions will play a critical role in shaping its final form.