HI HB351

Expands the Hawaii renewable hydrogen program to encompass broader long duration clean energy storage technologies, including renewable hydrogen, pumped storage hydroelectricity, batteries, and other storage methods.

Transfers program administration from the Department of Business, Economic Development, and Tourism to the Hawaii State Energy Office.

Establishes the long duration clean energy storage investment capital special fund to receive legislative appropriations, public and private contributions, interest earnings, and other revenues for seed capital and venture capital investments in research, development, testing, and deployment projects.

Repeals the existing hydrogen investment special fund (Section 206M-63) and consolidates its functions into the new long duration clean energy storage fund.

Appropriates unspecified general revenue funds for fiscal years 2025-2026 and 2026-2027 to support the program and hire temporary staff for the transfer, effective July 1, 2025.