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Hawaii

Hawaii

Incentives/Policies for Renewables & Efficiency

Printable Version
Local Option - Special Improvement Districts   

Last DSIRE Review: 08/15/2012
Program Overview:
State: Hawaii
Incentive Type: PACE Financing
Eligible Efficiency Technologies: Locally determined
Eligible Renewable/Other Technologies: Locally determined
Applicable Sectors: Commercial, Residential
Terms:Determined locally
Authority 1:
Date Enacted:
HRS ยง 46-80 et seq.
1976, subsequently amended
Summary:

Note: The Federal Housing Financing Agency (FHFA) issued a statement in July 2010 concerning the senior lien status associated with most PACE programs. In response to the FHFA statement, most local PACE programs have been suspended until further clarification is provided.

Property-Assessed Clean Energy (PACE) financing effectively allows property owners to borrow money to pay for energy improvements. The amount borrowed is typically repaid via a special assessment on the property over a period of years. Hawaii has authorized certain local governments to establish such programs, as described below. (Not all local governments in Hawaii offer PACE financing; contact your local government to find out if it has established a PACE financing program.)

Existing Hawaii law authorizes counties to create special improvement districts for financing a variety of projects that serve the public purpose and benefit the county. The counties can also issue bonds and collect special taxes on property within the special improvement districts. Renewable energy and energy efficiency improvements are not specifically mentioned in the enabling law, though these improvements appear to be eligible.

As of September 2011, no local governments in Hawaii have created PACE financing programs.

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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.