HI SB2331

Modifies Hawaii's renewable portfolio standards to require that beginning January 1, 2015, at least two percent of net electrical power generation be from facilities that commercially produce biofuels or food, feed, or wood products in tandem with electrical power generation.

Defines a biofuel facility as one producing over 500,000 gallons of biofuel per year and a food, feed, or wood products facility as one producing over 50,000 pounds of saleable product per year.

Allows electric utility companies to postpone meeting the two percent requirement if insufficient energy from qualifying facilities is available, until adequate supply becomes available.

Maintains existing renewable portfolio standards requiring fifty percent renewable energy generation prior to January 1, 2015, and one hundred percent after December 31, 2014.

Takes effect on July 1, 2050.