Hawaiʻi Green Infrastructure Authority

Note: HGIA is placing a moratorium on new applications effective November 30, 2024, at 5:00 PM. Please visit this page for more information

WHAT IS GEM$?

The Green Energy Money $aver (GEM$) On-Bill Financing Program offers an innovative financing option for nonprofits, small businesses and commercial tenants seeking to install energy improvements to reduce their utility costs. GEM$ features:

• Long-term financing for up to 20 years at below-market fixed-rates
• Immediate bill savings
• Elimination of credit barriers
• Obligation tied to the utility meter (not to an organization)
• Payments conveniently made on your monthly electric utility bill
• Click here for more information on the Commercial GEM$ On-Bill Financing Program

Qualifying for GEM$ is a simple 2-step process:

Step 1 – Applicant Eligibility

• Must be a Hawaiian Electric, Maui Electric or Hawaiian Electric Light Company customer on Rate Schedule G, J, DS or P
• Must be a nonprofit, small business, multi-family rental project or commercial tenant

Step 2 – Project Eligibility

• Energy Improvement (EI) must be on the Approved EI List
• Contractor must be a GEMS Approved Contractor
• Post-installation, the EI must meet minimum utility bill savings requirements based on the following number of disconnection notices:

Disconnection Notices	Tiered Estimated Bill Savings Requirement
0	≥ 5% Savings
1 – 4	≥ 10% Savings
5+	≥ 15% Savings

Note:

  Energy Efficiency Contractor must also be a Hawaii Energy Clean Energy Ally

Commercial tenants will need property owner approval

WHAT IS GEM$?

The Green Energy Money $aver (GEM$) On-Bill Financing Program offers an innovative financing option for nonprofits, small businesses and commercial tenants seeking to install energy improvements to reduce their utility costs. GEM$ features:

• Long-term financing for up to 20 years at below-market fixed-rates
• Immediate bill savings
• Elimination of credit barriers
• Obligation tied to the utility meter (not to an organization)
• Payments conveniently made on your monthly electric utility bill
• Click here for more information on the Commercial GEM$ On-Bill Financing Program

HOW DOES GEM$ WORK?

Qualifying for GEM$ is a simple 2-step process:

1. Participant Eligibility
   • Must be a Hawaiian Electric, Maui Electric or Hawaiian Electric Light Company customer on Rate Schedule G, J, DS or P
   • Must be a nonprofit, small business, multi-family rental project or commercial tenant
2. Project Eligibility
   • Energy Improvement (EI) must be on the Approved EI List
   • Contractor must be a GEMS Approved Contractor
   • Post-installation, EI must meet estimated minimum bill savings requirements based on number of disconnections

Note:

• Energy Efficiency contractor must also be a Hawaii Energy Clean Energy Ally
• Commercial tenants will need property owner approval
• Small businesses are defined by the size standards set by the U. S. Small Business Administration.  To verify if your small business qualifies, click here.

By including the GEM$ repayment on your monthly utility bill, HGIA is able to relax its credit underwriting requirements and allow the obligation to transfer from ratepayer to ratepayer via the electric utility meter.

The following depicts the GEM$ process:

1. Nonprofit, small business, multi-family project or commercial tenant, who is the Ratepayer (“Applicant”), to submit a GEM$ Application to HGIA;
2. Applicant selects a GEMS Approved Contractor who will submit the proposed Energy Improvement information to HGIA for analysis;
3. Upon approval and execution of Program documents, the Energy Improvement is installed;
4. HGIA pays the GEMS Approved Contractor for the completed installation;
5. HGIA remits the On-Bill Obligation (OBO) information to the Utility;
6. Utility adds the OBO as a monthly Program Charge on the electric bill of the nonprofit, commercial tenant or business;
7. Utility remits Program Charge to HGIA.

Qualified Energy Improvements (EI):

• Solar PV Systems
• HVAC
• Water Heating
• Thermal Storage Pumps
• Motors
• Building Envelope
• Refrigeration
• Other Commercial Energy Efficiency Technologies