Bill > SB1518

This bill re-establishes a two-year Hawaii Office of Naval Research Grant Program designed to support alternative energy research and development in the state. The program will provide 50% matching grants to Hawaii-based businesses that have received competitive research contracts from the U.S. Department of Defense Office of Naval Research in alternative energy fields such as geothermal, solar, wind, ocean power, bioenergy, and smart grid technologies. To be eligible, businesses must be at least 60% Hawaii-resident owned, for-profit entities organized in Hawaii, operating in the state for at least one year, and committed to spending grant funds within Hawaii. The grants will support research with high technology readiness or implementation potential, with a maximum grant amount equal to 50% of the federal research grant. The bill also establishes an Alternative Energy Research and Development Revolving Fund to support the program, which will be in effect from July 1, 2025, through June 30, 2027, with the goal of advancing Hawaii's objective of achieving 100% clean energy by 2045 while promoting economic growth and diversification in the state's technology sector.

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https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=1518&year=2026