NEWS RELEASE
For Immediate Release
January 3, 2012
CONTACT: Jeff Mikulina, 808-226-4987

Hawaiian Electric proposes limited on-bill financing option for solar water heaters

HONOLULU—In response to a limited on-bill financing program announced by Hawaiian Electric Company, Inc. today, Blue Planet Foundation applauds the utility's willingness to provide residential customers on O‘ahu, Maui, Moloka‘i, Lana‘i, and Hawai‘i Island the opportunity to finance the purchase of a solar water heater using the immediate cost savings that would result from the energy-efficient installation. Blue Planet is hopeful that the proposal is indicative of the utility's interest in and commitment to providing smart, sensible financing options that will make clean energy accessible to residents and businesses statewide.
 
Blue Planet made on-bill financing a top policy priority in 2011, promoting it tirelessly at the state legislature and pushing the passage of a law that directed the Hawai‘i Public Utilities Commission (PUC) to consider an on-bill repayment program for all Hawai‘i customers. This PUC action is currently underway. A comprehensive and well-structured on-bill program has the potential to make a transformational impact on Hawai‘i's clean energy goals by eliminating the upfront costs that prohibit residents from purchasing energy-efficient appliances and solar power.
 
"Blue Planet appreciates all efforts to make clean energy more accessible to customers, particularly with the astronomically high electricity rates tied to imported oil," said Blue Planet Executive Director Jeff Mikulina. "Blue Planet has made on-bill repayment a priority initiative over the past year, building public interest, passing enabling legislation, and funding efforts to help study and structure the program."
 
Mikulina emphasized that Blue Planet Foundation will continue to push for a comprehensive on-bill program that maximizes the reach and effectiveness of the innovative policy solution.

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