Solar Hui Investment Fund

Photo of Hawaii State House of Representatives Chamber

HB2658, hd2, sd1, cd1, relating to energy

According to 2022 U.S. Census data, total condominium units in the state of Hawaii aggregate over 200,000, providing approximately 36% of all housing units in Hawaii.  However, unlike owners of single-family dwellings, condo owners do not own their rooftops, and up until now, have been locked out of participating in solar.

HB2685, HD2, SD1, CD1, Relating to Energy, is a novel approach to democratizing access to renewable solar energy on ALICE rooftops, while providing an opportunity for multi-family residential property owners, including owners of condominium units, a new opportunity for local investment into Hawaii’s clean energy future.

This Solar Hui Investment Fund will complement the Hawaii Green Infrastructure Authority’s (“HGIA”) equitable energy goals by providing a venue for multi-family residential property owners to accelerate clean energy adoption by co-investing into a fund to lower the energy burden for low and moderate-income households by installing solar + storage systems through Energy Services Agreements.  This symbiotic arrangement is a “win-win” because the solar systems will lower the electric utility costs for our most vulnerable ratepayers, while the condo owners will be able to offset their energy or other household expenses through their proportionate share of the tax credit benefits and excess cash flow generated by the solar systems.

In addition to making Hawaii a more affordable place to live, the Solar Hui Investment Fund will also support local economic development, job creation and a greener environment.

HGIA is working on program design and more information on the Solar Hui Investment Fund will be forthcoming.