Hawaii Green Infrastructure Authority (HGIA)
Hawaii Green Infrastructure Authority (HGIA)
Created by the Hawaii State Legislature to make clean energy investments accessible and affordable to Hawaii’s consumers, HGIA was constituted in November 2014 and capitalized with the $150.0 million Green Energy Market Securitization (“GEMS”) Bond, an innovative market-driven financing mechanism, to advance the State’s goal of achieving 100% renewable portfolio standard in the electricity sector by 2045.
The key objectives of the program are to address financing market barriers, democratizing clean energy by expanding access of renewable energy and energy efficiency projects for identified underserved markets, while expanding the market generally; and partner with and support existing market entities in the clean energy and financing sector to ensure GEMS can bridge market gaps and facilitate a sustainable and efficient private sector market.
HGIA serves consumers, nonprofits, small businesses, and state agencies in the Hawaiian Electric Companies' territories (Hawaiian Electric Company, Inc., Maui Electric Company, Ltd., Hawaii Electric Light Company, Inc.).
HGIA works closely with its clients, contractors, and developers on finding appropriate financing solutions for the proposed clean energy project. As a non-traditional lender, HGIA relies on the estimated utility bill savings to repay its loan obligations and has a portfolio of financing products to meet the needs of the Hawaii market, including:
- The Green Energy Money $aver On-Bill Program to finance the installation of eligible energy improvements for homeowners, renters, small businesses, nonprofits and state agencies with repayments conveniently made through the ratepayer’s utility bill;
- Direct loans to homeowners, small businesses, and project sponsors to finance the installation of eligible energy improvements; and
- Direct loans to Hawaii State Agencies located in the Hawaiian Electric Companies’ service territory, to finance the installation of energy efficiency retrofits
The minimum residential project size is $5,000 and commercial project size is $50,000, however, exceptions may apply. There is no maximum.
Gwen Tamamoto Lau - Executive Director
dbedt.gems@hawaii.gov
(808) 587-3868
The key objectives of the program are to address financing market barriers, democratizing clean energy by expanding access of renewable energy and energy efficiency projects for identified underserved markets, while expanding the market generally; and partner with and support existing market entities in the clean energy and financing sector to ensure GEMS can bridge market gaps and facilitate a sustainable and efficient private sector market.
| Financing Goals |
|---|
| $25M | Progress |
 Goal Achieved$49MAs of December 2019 |