HI HB1524

Establishes the Hawaii Property Assessed Clean Energy (PACE) program administered by the Department of Business, Economic Development, and Tourism to finance renewable energy systems and energy efficiency improvements for residential and commercial properties.

Creates a revolving fund financed through revenue bonds, with loan repayments collected through special property tax assessments that are remitted to the fund by participating counties.

Allows property owners to finance qualifying improvements including solar photovoltaic systems, wind systems up to 50 kilowatts, insulation, HVAC systems, and other energy efficiency upgrades with loans up to $250,000 and repayment periods not exceeding the useful life of the improvements.

Requires counties to voluntarily participate by adopting local ordinances and submit reports detailing eligible systems, contract agreements, and assessment procedures; participating counties receive reasonable compensation for collection services.

Authorizes the Director of Finance to issue revenue bonds and appropriates funds for the program, which begins July 1, 2016, with no loans issued after December 31, 2040.