S.B. No. 2815 - Hawaii Clean Energy Bond Loan Program

• Establishes a Hawaii clean energy bond loan program administered by the Department of Business, Economic Development, and Tourism to provide financing for energy efficiency improvements and small renewable energy systems.

• Authorizes issuance of $50,000,000 in general obligation bonds for fiscal year 2010-2011, with proceeds deposited into the Hawaii clean energy bond loan revolving fund.

• Allows loans to commercial and residential property owners in participating counties, with repayment through special assessments on the borrower's property collected by the county and remitted to the state.

• Defines eligible energy efficiency improvements including insulation, HVAC, water heating, lighting, windows, and reflective roofs; and renewable energy systems including solar photovoltaic, small wind, and biogas systems.

• Requires the department to establish rules for applicant eligibility, loan conditions, inspection rights, and may delay or suspend the program if insufficient loan volume cannot offset administrative costs.

• Takes effect July 1, 2010.