GEM$ Servicing Program

The GEM$ Servicing Program allows third-party investors to mitigate risks while owning and installing solar + storage systems benefitting low and moderate-income (LMI) households by accessing HGIA’s GEM$ on‑bill repayment mechanism. Under the GEM$ Servicing Program, Project Sponsors self-finance the solar systems without HGIA debt. 

HGIA’s role is to provide on‑bill servicing, placing the monthly solar lease or power purchase agreement payments on the off taker’s Hawaiian Electric bill and transferring payments made by the off taker to the Project Sponsor, net of a servicing fee, on a monthly basis. This makes participation easy and predictable for customers, while allowing investors to use a trusted repayment mechanism.  

Although these projects are not financed by HGIA, in order to leverage the GEM$ on-bill repayment mechanism, projects still need to meet HGIA’s current GEM$ underwriting requirements and follows its existing program processing procedures: Hawaiʻi Green Infrastructure Authority | GEM$ On-Bill Program

Benefits of GEM$ Servicing for the LMI household: 

  • Immediate estimated bill savings 
  • Elimination of credit barriers 
  • Payments made on your monthly electric utility bill 
  • Long-term agreements with options to purchase or renew 
  • Pre-determined energy rate(s) 

Benefits for the Project Sponsor: 

  • Competitive servicing fees. 
  • Obligation tied to the electric utility meter (not a person) 
  • Reliable, risk mitigating collection mechanism 
  • Investments in projects are not limited to scarce government funds 

GEM$ SERVICING FEES 

Project Sponsor fees for non-HGIA financed projects include:  

GEM$ Underwriting Approval Fee $250 
Program Charge Migration Fee $250 
Monthly On-Bill Payment Servicing Fee 1% of the amount collected 

($50 cap) 

Assumption Processing Fee $50 
Program Charge Change Fee $5 
Payoff Transaction Fee $10

For more information or to sign up for the GEM$ Servicing Program, please call our office at (808) 587-3868 or email us at [email protected].