HI HB623

Increases Hawaii's renewable portfolio standards for electric utilities to 30% by 2020, 70% by 2040, and 100% by 2045, replacing the previous 25% by 2020 target.

Adds "inability to acquire sufficient renewable electrical energy to meet standards beyond 2030 in a manner beneficial to Hawaii's economy in relation to comparable fossil fuel resources" as an allowable exemption from renewable portfolio standards.

Requires the Public Utilities Commission to evaluate studies on the impact of renewable portfolio standards on energy prices offered by renewable developers and the cost of fossil fuel volatility.

Mandates the Public Utilities Commission to conduct five-year evaluations of renewable portfolio standards beginning in 2013 and report findings to the legislature.

Takes effect on July 1, 2015.