Hawaii Green Infrastructure Authority Releases $18M in Loan Capital for Nonprofits, Small Business, Rural Health Centers and Hawaii’s Underserved Ratepayers

Hawaii Green Infrastructure Authority
For Immediate Release: December 8, 2025

HONOLULU-The Hawaii Green Infrastructure Authority (HGIA) announces the availability of $18 million of Green Energy Market Securitization (GEMS) loan capital to expand access for Hawaii's underserved ratepayers to participate in the clean energy transition and lower their utility costs. HGIA is excited to announce this timely availability of critical loan capital to support clean energy access for underserved ratepayers in the Hawaiian Electric Company service territory.

Funding was made available through Hawaii Public Utilities Commission (PUC) Order No. 42129, which acknowledges the urgency of deploying clean energy solutions and preserving affordable financing options, in light of recent federal tax credit changes and national developments.

This funding comes at a pivotal moment as federal Solar for All funds remain the subject of ongoing litigation, creating uncertainty for many eligible communities and ratepayers across the state. Furthermore, the federal residential solar Investment Tax Credit (ITC) is set to expire at the end of this calendar year. While commercial solar federal tax credits remain available through 2027, design, installation and interconnection of said projects have a shortened deadline due to the passage of H.R. 1.

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

HGIA's newly available funds will help bridge these gaps by ensuring continued progress to Hawaii's clean energy goals and equitable access to solar.

"We are thrilled with the PUC's prospective approval to modify Order No. 34930, which allows us to immediately make available an additional $18.0 million in loan capital to finance clean energy improvements for nonprofits, small businesses and low- and moderate-income households," said Gwen Yamamoto-Lau, executive director of HGIA. "With the highest electric utility costs in the nation, we look forward to helping more underserved ratepayers lower their energy burden while increasing resiliency."

The GEMS program was created by Act 211 (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 GEM$ program, an on-bill repayment financing program. Eligible customers can install clean energy upgrades such as solar photovoltaic (PV) systems, battery energy storage systems, solar water heaters, heat pump water heaters and commercial energy efficiency retrofits.

In addition to advancing the state of Hawaii's goal of 100% clean energy by 2045, these investments will help to lower electricity bills for participating customers and catalyze economic growth in the state's energy sector.

About the Hawaii Green Infrastructure Authority (HGIA)
HGIA, administratively attached to the Department of Business, Economic Development and Tourism (DBEDT), was constituted to democratize clean energy by making clean energy investment accessible and affordable to Hawaii's underserved ratepayers, while stimulating private investments and leveraging innovative tools to mitigate risks and reach new markets. In addition to clean energy financing, HGIA provides credit enhancements and non-traditional financing to expand access to capital for small businesses and nonprofits statewide through the State Small Business Credit Initiative HI-CAP (Hawaii Capital Assistance Program), and administers the HI C-PACER (Hawaii's Commercial Property Assessed Clean Energy and Resiliency) financing program. For more information, please visit gems.hawaii.gov.

# # #

MEDIA CONTACT:
Jenna Seagle
Community Outreach Officer
Hawaii Green Infrastructure Authority, State of Hawaii
Phone: 808-206-2903