The Hawaii Green Infrastructure Authority (HGIA) is making a significant investment in Hawaii's clean energy future with the launch of an $18 million loan program. This initiative, part of the Green Energy Market Securitization (GEMS) program, is specifically targeted to benefit underserved communities, nonprofits, small businesses, and rural health centers across the state, facilitating their participation in the clean energy transition and lowering their operational costs. This move aligns with broader state goals to promote sustainability and economic equity.
The GEMS program, managed by HGIA, offers an innovative financing approach by removing traditional credit barriers and providing long-term, fixed-rate financing. The program's design allows the obligation to be tied to the utility meter, not the individual or organization, making it easier for a wider range of customers to participate. According to the Hawaii Free Press HGIA has already demonstrated success with similar programs, eliminating barriers to clean energy adoption through creative financing solutions such as the Green Energy Money $aver (GEM$) program which offers on-bill financing. This allows for investment in solar PV systems and other energy-efficient upgrades, directly reducing electric bills for participants.
This new injection of capital will support the installation of renewable energy systems, as well as energy efficiency upgrades. HGIA has been actively working to expand access to clean energy financing options and this loan program is a key part of that ongoing effort. These programs include initiatives like GEM$ Loan Commercial and GEM$ On-Bill Program for underserved communities and homeowners, which helps low-to-moderate income households. Eligible projects include solar PV systems, efficient HVAC systems, and other energy-saving technologies.
This funding represents a concrete step toward building a more sustainable and equitable energy future for Hawaii. By enabling underserved communities to invest in clean energy, HGIA is not only helping them reduce their energy costs but is also fostering economic development and supporting the state's environmental objectives. The availability of this capital is a signal to businesses and organizations in Hawaii to explore ways to reduce their environmental impact while also saving money. For more information, please visit the HGIA website and look into the programs they offer.
