Hawaii Green Infrastructure Authority

Changes to GEMS/GEM$ Loan Program

Effective September 1, 2019

The remaining GEMS loan funds will be used to finance eligible projects in the following segments:

Segment

% Allocation

Low and Moderate-Income[1] (“LMI”) single family residential homeowners and renters

20%

Small Businesses (as defined by the U.S. Small Business Administration)

15%

Multi-Family Rental Projects

35%

Nonprofits

30%

Effective September 1, 2019, affluent[2] homeowners shall no longer be eligible for GEMS financing;

The following initiatives may also be implemented in the future, pending further research and due diligence by the Authority, and upon obtaining required approvals, as applicable:

  • Credit enhancement program(s)[3] to increase the leverage between private and public capital;
  • Community Based Renewable Energy projects that target any of the eligible segments;
  • Options for LMI applicants who do not qualify for GEM$ solar PV financing due to disconnection notice(s), either solar hot water or heat pump financing[4];
  • Projects that include energy storage.

[1] Defined as <140% Area Median Income per the U.S. Department of Housing & Urban Development and Hawaii Housing Finance & Development Corporation’s guidelines.

[2] Defined as 140% or greater Area Median Income per the U.S. Department of Housing & Urban Development and Hawaii Housing Finance & Development Corporation’s guidelines.

[3] If the credit enhancement program(s) are deemed viable and approved by the Public Utilities Commission, HGIA may re-purpose up to 50% of the remaining funds available for credit enhancement(s) programs to finance the eligible segments.

[4] Solar Hot Water or heat pump installations must still meet estimated minimum bill savings requirement.

In 2015, the State of Hawaii was the first in the nation to set an ambitious goal of adopting a 100% Renewable Portfolio Standard (in the electricity sector) by 2045.

As the most oil dependent state in the nation, Hawaii spends roughly $5 billion a year on foreign oil to meet its energy needs.  Making the transition to renewable, indigenous resources for power generation will allow us to keep more of that money at home, thereby improving our economy, environment and energy security.”  – David Ige, Governor, State of Hawaii

The Hawaii Green Infrastructure Authority (“HGIA”) was created by the Legislature to make clean energy investments accessible and affordable to a broader cross-section of Hawaii’s utility ratepayers, with a portion of its funds to benefit underserved communities, low- and moderate-income households, renters and nonprofits.

Learn which GEMS Financing Program can help you lower your electric utility costs: