What is Hawaiis Renewable Energy Portfolio Standard?
In January 2008, the U.S. Department of Energy (DOE) and the State of Hawaii signed a Memorandum of Understanding (MOU) with the U.S. Department of Energy establishing the Hawaii Clean Energy Initiative . This agreement established an aggressive goal to help Hawaii greatly increase its renewable and clean energy production capabilities, and to transition exclusively to renewable energy use on the smaller islands. Although the MOU is not legally binding, it has the potential to help reduce oil consumption in Hawaii by 72% if implementation is successful. The expansion of Hawaiis RPS by the Hawaii Legislature in 2009 ( H.B. No. 1464 ) formalized many of the goals established in by the Hawaii Clean Energy Initiative on October 20, 2008. Under the Hawaii RPS, each electric utility company that sells electricity for consumption in Hawaii must establish the following percentages of “renewable electrical energy” sales: • 10% of its net electricity sales by December 31, 2010; • 15% of its net
