Hawaii Commits to 100% Renewable Energy — and Needs This Company’s Help
…..The recently passed bill actually buys Hawaii more time to meet its goals. The previous Hawaii Electric Plan set a 70% renewable target by 2030, while House Bill 623 doesn’t expect the 70% threshold to be met until 2040. Of course, that means the state must transition the remaining 30% of its generation capacity to renewable sources in the last five years of the effort. In other words, the state will probably fail to meet its goal if it doesn’t exceed the capacity targets set by House Bill 623 earlier rather than later.
Enter NextEra Energy, one of the world’s largest renewable-energy power generators. In late 2014, the company stepped up to offer a progressive solution to an otherwise messy situation that pitted state regulators and residential solar customers against the suddenly non-competitive utilities owned by Hawaiian Electric Industries. How? NextEra Energy agreed to acquire the utility business of Hawaiian Electric Industries and embrace renewable energy and rooftop solar; plans that stood in stark contrast to previous attempts to intentionally slow the growth of residential solar (which state regulators shot down).