S.B. 932 Summary

• Establishes a clean energy and energy efficiency revolving loan fund administered by the Hawaii green infrastructure authority to provide low-cost loans for clean energy investments, electric vehicles, and charging infrastructure up to $50,000,000.

• Repeals the building energy efficiency revolving loan fund and consolidates its functions into the new clean energy fund.

• Expands the Hawaii green infrastructure special fund $50,000,000 sub-fund to allow state agencies to finance purchase options under existing energy performance contracts and power purchase agreements, and to finance electric vehicle purchases or leases and charging system installation.

• Appropriates $50,000,000 from the clean energy and energy efficiency revolving loan fund for fiscal year 2021-2022 to provide loans and financial assistance to eligible borrowers for clean energy investments.

• Takes effect July 1, 2021.