The Hawai‘i Green Infrastructure Authority has announced $18 million in new loan funds through its Green Energy Market Securitization program to expand access to clean energy for underserved ratepayers and help lower utility costs across the islands.
The new capital, approved under a Hawai‘i Public Utilities Commission order, will enable more households, nonprofits, and small businesses in the Hawaiian Electric service area to install renewable energy systems and efficiency upgrades. The commission’s order recognizes the urgency of expanding affordable financing options as federal tax credit rules evolve and national policy changes reshape the solar market.
This additional funding comes at a critical time. federal Solar for All funds are tied up in litigation, and the federal solar Investment tax credit for homeowner-owned systems is set to expire Dec. 31. Although commercial tax credits remain available through 2027, many projects face shortened timelines due to new federal legislation.
Authority Executive Director Gwen Yamamoto-Lau said the agency is moving quickly to fill that gap for local customers.
“We are thrilled with the PUC’s approval to modify Order No. 34930, allowing us to make $18 million in additional loan capital immediately available,” Yamamoto-Lau said. “With Hawai‘i’s high electricity costs, this support will help nonprofits, small businesses, and low- and moderate-income households reduce their energy burden and improve resiliency.”
Through the authority’s Green Energy Money $aver on-bill repayment program, customers can finance clean energy improvements — including solar photovoltaic systems, battery storage, solar water heaters, heat pump water heaters, and commercial energy-efficiency retrofits — without the need for traditional tax incentives. Loan eligibility and projected savings are calculated independently of federal tax credits.
The GEMS program, established by Act 211 (2013), was designed to make clean energy financing more inclusive by providing below-market rates and flexible loan terms for those who may not qualify for conventional financing. These investments are expected to advance Hawai‘i’s target of 100% clean energy by 2045 while driving job growth and innovation in the local energy economy.
About the Hawai‘i Green Infrastructure Authority
The authority is administratively attached to the Department of Business, Economic Development and Tourism, and it works to expand clean energy investment for Hawai‘i’s underserved ratepayers and stimulate private investment using innovative financial tools. In addition to clean energy programs, the authority manages the Hawai‘i Capital Assistance Program under the State Small Business Credit Initiative and the Commercial Property Assessed Clean Energy and Resiliency program.
Learn more at gems.hawaii.gov.