[§304A-2169]  Energy systems developmentspecial fund.  (a)  [Section repealed on June 30, 2012.  L 2007, c 253,§8.]  There is established the energy systems development special fund forthe purpose of developing an integrated approach and portfolio management ofrenewable energy and energy efficiency technology projects that will reduceHawaii's dependence on fossil fuel and imported oil and other imported energyresources and move Hawaii toward energy self-sufficiency.

(b)  The special fund shall be funded by:

(1)  Appropriations from the legislature; and

(2)  Investment earnings, gifts, donations, or otherincome received by the [Hawaii natural energy] institute.

(c)  The Hawaii natural energy institute shalladminister the special fund and may expend revenues from the special fund forthe following activities:

(1)  Obtaining matching funds from federal and privatesources for research, development, and demonstration of renewable energysources;

(2)  Awarding contracts or grants to develop anddeploy technologies that will reduce Hawaii's dependence on imported energyresources and imported oil.  Projects may be commissioned that:

(A)  Balance the risk, benefits, and timehorizons of the investment to ensure tangible benefits to the Hawaii consumer,with priority given to short- term technology development;

(B)  Emphasize innovative and renewable energysupply and energy efficient end use technologies focusing on environmentalattributes, reliability, and affordability;

(C)  Enhance transmission and distributioncapabilities of renewable energy supply for electricity;

(D)  Enhance reliability and storagecapabilities of renewable energy for electricity;

(E)  Ensure that research, deployment, anddemonstration efforts build on existing programs and resources and are notduplicated;

(F)  Address critical technical and scientificbarriers to achieving energy self-sufficiency by reducing dependence onimported oil and imported energy resources;

(G)  Ensure that technology used and developedfor renewable energy production and distribution will be commercially viable;and

(H)  Give priority to resources that areindigenous and unique to Hawaii; and

(3)  Managing the portfolio of projects commissionedunder this subsection. [L 2007, c 253, pt of §2]

 

Revision Note

 

  Section was enacted as part of part IV, subpart N but wasrenumbered to this part V, subpart C pursuant to §23G-15.