H.B. 859 Summary

• Extends the renewable energy portfolio standard from 70% by 2040 to 60% by 2050, and reduces the final goal from 100% by 2045 to 80% by 2070.

• Allows electric utility companies to use firm energy sources (non-renewable generators) alongside renewable energy to maintain grid reliability during emergencies and natural disasters.

• Adds new exemptions to renewable energy requirement penalties, including inability to acquire cost-effective renewable energy and inability to meet goals beyond 2030 in a manner beneficial to Hawaii's economy compared to fossil fuel alternatives.

• Addresses concerns about rising electricity costs, which increased approximately 40% in the past year due to coal plant closure mandated by previous renewable energy goals.

• Takes effect upon approval and applies to Section 269-92 of Hawaii Revised Statutes governing renewable portfolio standards for electric utility companies.