Bill > SB743

This bill aims to support Hawaii's goal of achieving a 100% renewable portfolio standard by 2045 by allowing the Public Utilities Commission (PUC) to establish preferential rates for renewable energy facilities that pay prevailing wages. The legislation recognizes that the Internal Revenue Service offers tax credits for renewable energy projects utilizing workers paid at prevailing wage rates, and seeks to create a similar incentive at the state level. Specifically, the bill authorizes the PUC to approve preferential rates for renewable energy purchases from facilities that meet certain wage standards, and requires public utilities to forward any requests for such preferential rates to the PUC for approval. The term "prevailing wages" is defined according to existing state law, which typically means the standard wage rate for workers in a specific occupation within a particular geographic area. The bill also appropriates funds from the PUC special fund to cover any costs associated with implementing these new rate approvals, and is set to take effect on July 1, 2025. This approach aims to support Hawaii's clean energy economy by improving job quality in the renewable energy sector and potentially creating more attractive financial conditions for large-scale renewable energy projects.

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https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=743&year=2026