Governor Josh Green, M.D.

The Hawai‘i Green Infrastructure Authority (HGIA) is thrilled to announce the availability of $18 million in Green Energy Market Securitization (GEMS) loan capital to expand access for nonprofits, small businesses, rural health centers and Hawai‘i’s underserved ratepayers to participate in the clean energy transition and lower their utility costs. The funding comes at a pivotal moment as federal Solar For All funds remain the subject of ongoing litigation and federal tax credits for homeowner-owned systems expired at the end of 2025.

The additional loan capital was made available through Hawai‘i Public Utilities Commission Order No. 42129, which modifies Order No. 34930 to allow HGIA to immediately deploy the funds to finance clean energy improvements.

The GEMS program was created by Act 211 (SLH, 2013) to provide inclusive financing at below-market rates and flexible terms to support clean energy projects, specifically for underserved ratepayers, defined as low- to moderate-income homeowners, renters, nonprofits, small businesses and multi-family projects. 

Funds are deployed through the Green Energy Money $aver (GEM$) program, an on-bill repayment financing program. Eligible customers can install clean energy upgrades such as solar photovoltaic systems, battery energy storage systems, solar water heaters, heat pump water heaters and commercial energy efficiency retrofits.

Despite the end of federal tax credits for homeowner-owned systems, homeowners can still see significant electric utility bill savings through the GEM$ program. HGIA does not incorporate tax credits to determine estimated utility bill savings, nor rely on it to approve financing. 

This state investment in clean energy will aid in lowering electricity bills for participating customers, catalyze growth in the state’s energy sector and advance the state of Hawai‘i’s goal of 100% clean energy by 2045.