STAND. COM. REP. NO. 400-24

Honolulu, Hawaii

, 2024

RE: H.B. No. 2685

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-Second State Legislature

Regular Session of 2024

State of Hawaii

Sir:

Your Committee on Consumer Protection & Commerce, to which was referred H.B. No. 2685, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO ENERGY,"

begs leave to report as follows:

The purpose of this measure is to establish and appropriate funds for:

(1) The Solar Hui Program to allow multi-family residential property owners to invest into a Solar Hui Investment Fund, which will provide loans to low- and moderate- income households to install solar energy systems; and

(2) A Solar Hui Program Fund manager to manage the investment fund and market the program.

Your Committee received testimony in support of this measure from the Hawai‘i Green Infrastructure Authority; Community Associations Institute Hawaii Legislative Action Committee; Palehua Townhouse Association; Climate Protectors Hawai‘i; Hawai‘i Association of REALTORS; 350Hawaii.org; Hawaii Solar Energy Association; Hawaii Bankers Association; Mortgage Bankers Association of Hawaii; Hawaii Credit Union League; and three individuals. Your Committee received comments on this measure from the Department of Commerce and Consumer Affairs; Department of Budget and Finance; and Public Utilities Commission.

Your Committee finds that in 2022, solar photovoltaic accounted for seventeen percent of the total energy generated by the State. Your Committee further finds that low- to moderate-income households often pay a disproportionately higher percentage of their income toward energy bills and typically do not have the financial means to pursue the installation of renewable energy technologies. This measure is intended to support the State's commitment to clean energy by bridging financial gaps and promoting equitable clean energy benefits.

As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2685, H.D. 1, and recommends that it be referred to your Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,

____________________________

MARK M. NAKASHIMA, Chair