The PPA for the Polynesian Cultural Center, a nonprofit 501(c)(3) organization established to preserve and portray the cultures, arts and crafts of Polynesia, will finance a set of photovoltaic and inverter systems totaling 413 kilowatts (kw), with flexibility to install additional systems and features. The agreement marks the first commercial on-bill financing project in Hawaii using the Hawaii Green Infrastructure Authority’s recently launched Green Energy Money $aver(GEM$) On-Bill program. In April, Hawaiian regulators approved this innovative on-bill repayment mechanism that enables ratepayers to shift to energy efficiency and renewable energy sources using a non-traditional financing mechanism.
The program leverages public and private capital to finance new clean energy projects, allowing ratepayers to pay a fixed amount on their utility bill out of the overall cost savings enjoyed as a result of the new energy efficiency and/or solar installationsThe PPA for Kohala Village HUB, a community-based organization for North Kohala residents and visitors, will finance a 60-kw PV system and a 37-kWh lithium-ion residential energy storage system. The project design will allow the batteries to be charged entirely through onsite solar energy.