RELATING TO ENERGY.

Increases renewable energy tax credit for photovoltaic systems and removes the credits' 2008 sunset date; authorizes bond issuances to install photovoltaic systems at public schools statewide and enable state facilities to meet greenhouse gas and energy consumption reduction goals; requires incorporation of leadership in energy in environmental design silver standards for certain state-funded facilities; establishes the pay as you save pilot project to help finance residential solar hot water systems.

RELATING TO ENERGY.

Establishes an energy policy framework of integrated measures to encourage and support market-based development of reliable, cost-effective, more self-reliant energy systems.

RELATING TO RENEWABLE ENERGY.

Requires the public utilities commission to establish a renewable energy credits trading program. Requires DBEDT to review the feasibility of the State becoming a member of the Chicago climate exchange. Establishes an advisory committee to assist the PUC and DBEDT to establish a renewable energy credits trading program.

RELATING TO TAX CREDITS.

Establishes an income tax credit for taxpayers who install a renewable energy unit in a residential rental unit. Allows taxpayer to claim 20% of the total cost of the system as a credit against income tax for up to 5 years. Requires that the residential unit using the renewable energy system remain in the rental market for at least 5 years.

RELATING TO GASOLINE.

Requires a phased reduction of methyl tertiary-butyl ether in gasoline sold or imported in the State with levels no greater that .15 volume per cent by January 1, 2009,

RELATING TO SOLID WASTE.

Amends the definition of deposit beverage container to allow the redemption of two liter (67.7 fluid ounces) bottles.

RELATING TO DEPOSIT BEVERAGE CONTAINER PROGRAM.

Extends reverse vending machine rebate program to persons who are not dealers or recyclers. Extends back the time in which reverse vending machine qualifies for a rebate to January 1, 2005. Extends sunset date of Act 228, SLH 2005 to June 30, 2010.

RELATING TO PETROLEUM PRICE GOUGING.

Creates a new chapter to protect Hawaii consumers from price gouging in the purchase of petroleum during periods of abnormal disruption of the marketplace caused by extraordinary adverse circumstances.

RELATING TO THE PETROLEUM INDUSTRY.

Establishes the petroleum industry monitoring, analysis, and reporting special fund to be funded by appropriation from the environmental response revolving fund. Establishes a petroleum industry information reporting system to be maintained by the PUC.

RELATING TO OPEN TRANSMISSION ACCESS.

Requires the public utilities commission to establish a wheeling tariff for intragovernmental wheeling of indigenous electricity.