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New Energy Source May Reduce Hawaii Energy Costs

Home prices are up but cheaper energy costs are in the works.
November 21, 2014

New Energy Source May Reduce Hawaii Energy Costs

Hawaii Real EstateWhile Hawaii real estate prices have been named the second highest in the country, with Massachusetts ranking first, there has been a steady stream of encouraging news when it comes to the cost of energy in our beautiful state. Yes, real estate inventory is low and prices are high, thanks to demand, but solar and wind energy are strong renewable energy sources, which comprise more and more of the overall share of energy used in our state. According to recent news, gas prices are seeing a significant drop, at least for the time being. Now, there is a natural gas deal in the works with the potential to save Hawaii tens of billions of dollars over the next twenty years.

SeaOne Maritime Corp. has developed a compressed gas liquid, or CGL, system, which they state is 50 percent cheaper than other conventional energy sources such as oil and liquefied natural gas, or LNG. Their new patented technology has been in the works for the past decade, and their process includes conditioning, liquefying, transporting and delivering their fully produced gas stream from the field to its markets. Their sources come from stranded and remote reserves.

SeaOne considers Hawaii to make the most sense as a market for their CGL product because of the strong push for more affordable energy sources. It's likely that they'll make more of a profit supplying Hawaii than other states because of the normal cost of energy here, but if their product can make our energy cheaper in the process, and it is environmentally sound, then it will be a mutually beneficial arrangement.

Although there are many promising qualities to CGL, it hasn't been deployed yet, and new technologies and products generally come with kinks to be worked out, or at least adjustments to accommodate them. SeaOne advisor Michael Dee has been meeting with state legislators, regulators, businesses, and industry stakeholders to educate them about CGL. He has pointed out that liquefied natural gas is not the lowest cost option.

Expect to hear more about CGL in energy news in the future, because it took a lot of investment to come this far, which makes it all the more likely to be implemented under the guidance of SeaOne Maritime. Hopefully, it will prove to be a success, and save Hawaii home owners and residents as much money as they plan.

Mahalo for reading this week!

Blogs for November 2014

Support Maui's History at a Holiday Fundraiser

Posted on November 28, 2014
Support Maui's History at a Holiday Fundraiser

You'll find that when you're living on Maui the holiday season is always full of interesting, enriching events that continue to make our lovely island a wonderful place to live. The upcoming fundraiser bazaar for The Bailey House Museum is one such event. They… Continue Reading

New Energy Source May Reduce Hawaii Energy Costs

Posted on November 21, 2014
New Energy Source May Reduce Hawaii Energy Costs

While Hawaii real estate prices have been named the second highest in the country, with Massachusetts ranking first, there has been a steady stream of encouraging news when it comes to the cost of energy in our beautiful state. Yes, real estate inventory… Continue Reading

5th Annual Go Red For Women Luncheon and Health Expo

Posted on November 14, 2014
5th Annual Go Red For Women Luncheon and Health Expo

The Go Red For Women Luncheon & Health Expo will be tomorrow, November 15th, and it's the 5th anniversary of this wonderful event. It will be held at Fairmont Kea Lani Maui Resort, which is located on a stunning beachfront property… Continue Reading

First Made in Maui County Festival a Success

Posted on November 10, 2014

The first ever Made in Maui County Festival took place last Saturday, November 8th - from 8:00 am to 4:30pm - at the Maui Arts and Cultural Center in Kahului and had a fantastic turnout.

This festival was formed and influenced by the success of the Made in Hawaii Festival on… Continue Reading

Life is Sweet Fundraiser in Wailea

Posted on November 07, 2014
Life is Sweet Fundraiser in Wailea

Looking for a way to support your community with like-minded people? That's the great thing about living in South Maui, there are always enjoyable events designed to help others just a couple minutes away from any South Maui home. For example, the upcoming "Life is… Continue Reading

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Mark A Harbison
R(B) (GRI) (CIPS) (TRC)

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