$50 million may go toward improving energy efficiency

By The Associated Press

A third of Hawaii's $150 million green energy loan program may go toward lowering electrical bills at Hawaii's public schools.

 

HONOLULU (AP) — A third of Hawaii's $150 million green energy loan program may go toward lowering electrical bills at Hawaii's public schools.

The Honolulu Star-Advertiser reports (http://bit.ly/2td2YnY ) today House Bill 957, which was passed unanimously last month and is awaiting Gov. David Ige's signature, would provide the state Department of Education an interest-free $46.4 million loan to improve energy efficiency at schools.

State regulators in February approved the Department of Education's use of the money to replace fluorescent bulbs with LEDs, or light-emitting diodes, and install other energy conservation measures to help create cooler environments in classrooms at 242 of the state's 256 public schools.

The program, Green Energy Market Securitization, or GEMS, raised roughly $150 million through a bond sale. The program has used less than 2 percent of the funds.

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