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Wednesday, August 27, 2014

Hawaiian Electric Company Offers Ambitions Renewable Energy Plan

The Hawaiian Electric Company has submitted a 2,731-page proposal to the Public Utilities Commission which includes the most ambitious renewable energy plan in the country. The goal is to have 65 percent of its power coming from renewable energy sources by 2030, which would help to cut customer bills by 20 percent.  The remaining power plants would be switched to liquefied natural gas, which is more energy efficient then the current method of burning oil.  The proposal states, "Our vision is to deliver cost-effective, clean, reliable, and innovative energy services to our customers, creating meaningful benefits for Hawaii's economy and environment, and making Hawaii a leader in the nation's energy transformation. Most existing oil-fired generating units will be converted to run on LNG. Older generating units will be deactivated by 2030 as new, more-efficient, quick-starting LNG fueled generators come online."

The state adopted the Hawaii Clean Energy Initiative in 2008 with the goal of getting 40 percent of its energy from renewable sources by 2030.  As of 2013, a total of 18 percent of energy comes from renewable sources.

Source: Honolulu Star Advertiser, 8-27-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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