With the closing of its largest coal plant, Oahu is filling the gap with solar and battery energy storage. But these new systems must be deployed quickly at customer sites to maintain stability on Oahu’s grid.
Consequently, Hawaii’s new energy storage incentives are among the most generous in the nation. For business customers, who typically see 10-30% utility bill savings from onsite battery storage, the up-front cash payment will make storage even more attractive.
The most generous incentives will go to the first projects and then decline. You won’t need to switch your tariff, and your compensation from any existing utility program will remain unchanged.
Beyond monthly bill savings, battery storage helps businesses avoid power outages and maintain smooth operations. Storage is also key for maximizing onsite solar PV by discharging store solar energy when it’s most valuable.
To learn more about how your business can capitalize on Hawaii’s new storage incentives, contact Stem today!
As an energy storage pioneer, Stem has been active in Hawaii and supported the state’s clean energy goals for years. Our longstanding relationship with Hawaiian Electric, partly funded by a DOE grant, has brought energy storage to dozens of businesses and schools.
Systems must be installed by June 20, 2023
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Hawaiian Electric (HECO) provides electricity to 95% of Hawaii’s residents on Oahu, Maui, Molokai, Lanai and Hawaii Island. The utility has strong clean energy support from its stakeholders and policymakers but limited land on which to build larger renewables projects.Read More