honoluluadvertiser.com

Sponsored by:

Comment, blog & share photos

Log in | Become a member
The Honolulu Advertiser

Posted on: Thursday, April 24, 2003

Loans set for solar water systems

Advertiser Staff

Solar water-heating systems will be more affordable for low- to moderate-income homeowners and landlords under a loan program introduced yesterday by the city and Hawaiian Electric Co.

The Honolulu Solar Roofs Initiative will offer seven-year loans at 0 percent to 2 percent financing, in addition to HECO's $750 rebate for solar installations. The loans can be used for single-family homes, condominiums and co-ops. Qualifying landlords must rent their properties to tenants who fall within the city's low-to-moderate income limits.

The loans will be administered through HECO and the city Department of Community Services, using money from the city's Rehabilitation Loan Program.

Mayor Jeremy Harris and T. Michael May, president and chief executive officer of HECO, announced their partnership in this project yesterday. "Hawai'i already has the largest concentration of solar water-heating systems per capita in the nation, in part because of the rebates we've been offering for the last seven years," May said. "Now, more people will be able to save energy and money with solar water heating."

Harris yesterday also signed a memorandum of agreement with the U.S. Department of Energy and the state Department of Business and Economic Development & Tourism that will help Honolulu to incorporate clean energy technologies, green building technologies and sustainable technology policies and programs into priority city initiatives and development projects.

"This coordination with the state and federal governments will enable us to better protect our environment and improve the quality of life for ourselves and our children," Harris said. "Honolulu can be the showcase for technologies, policies and resources that can provide solutions to current and future energy challenges."