STAND. COM. REP. NO.  1716

Honolulu, Hawaii

                , 2017

RE:   S.B. No. 665

      S.D. 2

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred S.B. No. 665, S.D. 2, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO RENEWABLE ENERGY,"

begs leave to report as follows:

The purpose of this measure is to:

     (1)  Address renewable energy tax incentives by replacing the current income tax credit for renewable energy technology systems with tax credits for solar energy or wind property and energy storage property; and

     (2)  Establish and appropriate funds for a building energy efficiency demonstration project within the Department of Transportation to set building energy efficiency standards that assist the State in reaching net zero emissions.

The Distributed Energy Resources Council, Ulupono Initiative, Green Charge, and Stem, Inc. supported this measure.  The Department of Transportation, Department of Business, Economic Development and Tourism, Department of Taxation, The Alliance for Solar Choice, Tax Foundation of Hawaii, Kaua‘i Island Utility Cooperative, Hawaii Solar Energy Association, American Chemistry Council, and Tesla provided comments.

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 665, S.D. 2, H.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

SYLVIA LUKE, Chair