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Hawaii Governor Signs Bill for 100 Percent Renewable Goal

Hawaii is officially the first state with a 100 percent renewable energy portfolio.
June 19, 2015

Hawaii Governor Signs Bill for 100 Percent Renewable Goal

South Maui HomesBack in mid May, we blogged about the legislature passing the bill that would establish a 100 percent renewable energy goal for the state of Hawaii. At that time, all that remained was for Governor Ige to sign it into law, which he did on June 8th. Hawaii is the first state in the nation with a 100 percent renewable energy portfolio. The bill has set the goal deadline for the year 2045, and given that the state has been ahead of its renewable energy goal deadlines in the past, many are optimistic about the time frame.

As it relates to residents and Hawaii real estate owners, one of the most important aims of this bill is to reduce the cost of energy throughout the state. Randy Iwase, chairman of the Hawaii Public Utilities Commission, and State Rep. Chris Lee, who is the Chairman of the House Committee on Energy and Environmental Protection, both emphasized the importance of getting the state off fossil fuels to lower the cost of energy for the average consumer, pointing to the millions of dollars the state spends importing fossil fuels every year.

Governor Ige also highlighted the choice to move up the benchmarks for 2020, 2030, 2040, and 2045 to help ensure that the state stays on target. At this point, we are producing 21 percent of our energy via renewable sources.

Florida-based NextEra Energy Inc. will play a major role in the outcome if their acquisition of Hawaiian Electric Co. is completed. While many are optimistic about NextEra's ability to provide the resources we need to achieve this new goal, others are skeptical as to the efficacy of a company with no experience in Hawaii. As Maui Mayor Alan Arakawa pointed out, it would be preferable for Hawaii energy to be administered by a Hawaii company, not just for familiarity with our state's nuances, but to keep profits cycling in our economy.

Hopefully, we'll see a nice reduction in utility bills for those who live on Maui, regardless of the outcome with NextEra. In the meantime, many residents and businesses are cutting their utility bills by investing in photovoltaics. As for what works for you, it all depends on how aggressive you want to be, and how much capital you have to start with. If buying a home on Maui is your next goal, that's an area where we can lend you our expertise. You'll find our contact information at the bottom of the page, should you need our assistance. Mahalo!

Blogs for June 2015

Why Choose South Maui Real Estate

Posted on June 26, 2015
Why Choose South Maui Real Estate?

Many prospective Maui home owners deliberate long and hard about which part of the island they want to live in. It's a decision that will change your life, no matter where you go, and there are qualities to certain areas that help ensure that the… Continue Reading

Hawaii Governor Signs Bill for 100 Percent Renewable Goal

Posted on June 19, 2015
Hawaii Governor Signs Bill for 100 Percent Renewable Goal

Back in mid May, we blogged about the legislature passing the bill that would establish a 100 percent renewable energy goal for the state of Hawaii. At that time, all that remained was for Governor Ige to sign it into law, which… Continue Reading

Hawaii Among Top 10 Renewable Energy States

Posted on June 12, 2015
Hawaii Among Top 10 Renewable Energy States

If you're considering a move to Maui, evaluating the cost of living is a natural step, especially if you plan to buy real estate. Whether you plan to live in it full time or part time, you've probably thought about what your utility bills… Continue Reading

New Walgreens Planned for South Maui

Posted on June 05, 2015
New Walgreens Planned for South Maui

Things are marching right along for South Maui real estate, and some interesting developments are in the works. Namely, a new Walgreens will be built in Kihei, and is expected to be open by 2017. The drugstore stocks a lot of convenient items, but the… Continue Reading

What are the Top Maui Real Estate Property Searches

Posted on June 04, 2015

Looking to purchase real estate in Maui? As buyers search Maui homes for sale on our website, our own research has shown us that they are mostly interested in purchasing residential homes and condominiums located in South Maui. Kihei being the most popular search, it has many beautiful beaches and… Continue Reading

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Mark and Lisa

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

Mark@RealEstateMauiHawaii.com

(808) 283-3785

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