HI SB2122

Extends Hawaii's energy-efficiency portfolio standard target from 4,300 gigawatt hours by 2030 to 6,000 gigawatt hours by 2045.

Requires the Public Utilities Commission to establish interim energy-efficiency goals for 2030, 2035, and 2040, in addition to existing 2015, 2020, and 2025 targets.

Defines "cumulative persisting electricity savings" as total electric energy savings from measures installed since January 1, 2009 that remain operational and have not reached the end of their useful lives.

Authorizes the PUC to establish incentives and penalties for performance in achieving energy-efficiency portfolio standards, and requires five-year evaluations and legislative reporting.

Allows renewable displacement or offset technologies (solar water heating, sea-water air-conditioning district cooling systems) to count toward meeting the standards beginning in 2015.