HB 855 Summary

• Renames the Building Energy Efficiency Revolving Loan Fund to the Clean Energy Revolving Loan Fund and expands its purpose to include renewable energy technology and other clean energy investments beyond energy efficiency improvements.

• Transfers administration of the Clean Energy Revolving Loan Fund from the Department of Energy to the Hawaii Green Infrastructure Authority.

• Authorizes the Hawaii Green Infrastructure Authority to make loans at below-market rates for clean energy investments to eligible public, private, and nonprofit borrowers.

• Requires the authority to submit annual reports to the legislature describing funded projects and projected energy impacts.

• Appropriates funds from the Clean Energy Revolving Loan Fund for fiscal year 2019-2020 to provide loans and financial assistance for clean energy investments (specific dollar amount not specified in bill).