Applications are now available through January 2023
Honolulu, Hawaii – Hawaii Energy, the state’s Public Benefits Fund administrator that focuses on energy-efficiency education and clean-energy initiatives, is now offering a new rebate for commercial energy storage. From now through January 31, 2023, Oahu businesses that install battery storage systems can submit applications to receive rebates of up to $250 per kilowatt-hour for their efforts to operate off of their stored energy during peak evening hours.
“The purpose of this technology is to capture energy and store it for future use, which can help balance the grid while reducing energy bills. By incentivizing more customers to take advantage of this technology, we believe the collective peak demand savings will help move our state closer to a 100 percent clean energy future,” said Caroline Carl, executive director, Hawaii Energy. “This is just one of the incentives we currently have in place that helps reduce energy consumption during peak hours, which is a priority as Oahu prepares for the retirement of the AES coal plant later this year.”
The Commercial Energy Storage rebate was created as part of Hawaii Energy’s Power Move Program which was launched in September 2021 to incentivize certain energy-saving measures that reduce load during the utility peak hours of 5-9 p.m. Commercial facilities that apply to Hawaiian Electric’s “Battery Bonus” program from now through January 2023 are ideal candidates to receive this additional financial benefit.
The rebate levels range from $125-$250 per kilowatt-hour (kWh) of dispatched energy during the evening hours and are subject to funding availability. To apply, businesses must be on a commercial HECO account on Oahu, and their energy storage system must be a new installation that is interconnected to the HECO grid and scheduled to serve onsite energy needs or exported to the grid between 5-9 p.m. HST.
Applications will be available through January 31, 2023, or while funding lasts. A full list of rules, additional eligibility requirements, and application instructions are available at hawaiienergy.com/for-business/power-move.