Ulupono Initiative

SolarCity's Department of Transportation Projects

15 Hawaii State Department of Transportation sites will provide 3.4 megawatts of solar electricity generation capacity and reduce the need for 15,000 barrels of fuel oil annually.

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Background

In 2012, Ulupono Initiative invested $15 million to finance SolarCity solar power projects in Hawaii. The investment helped to fund eight SolarCity projects statewide with the Hawaii State Department of Transportation (DOT), as well as another seven DOT sites being developed statewide. In total, the 15 sites will provide 3.4 megawatts of solar electricity generation capacity and are expected to produce enough renewable energy to power up to 630 homes and reduce the need for 15,000 barrels of fuel oil annually.

SolarCity is a national leader in clean energy services, making clean energy available to homeowners, businesses, schools, non-profits and government organizations at a lower cost than they pay for energy generated by burning fossil fuels. SolarCity serves 15 states, including Hawaii, as well as the District of Columbia. 

Why We Invested

Ulupono Initiative viewed SolarCity solar power projects as opportunities for significant impacts in energy:

  • Providing local financing to help make clean energy more affordable for Hawaii consumers
  • Helping to accelerate renewable energy in Hawaii to reduce our dependence on imported oil
  • Identifying ways to use available incentives to help attract more institutional capital to innovate projects and catalyze others to replicate this structure and expand solar development

The partnership’s mission was to help increase Hawaii’s solar power generation by approximately five percent, which could be expanded over time. SolarCity’s photovoltaic (PV) installations helped to contribute to the state’s goal to achieve 70 percent clean energy by the year 2030.

“We’re truly excited about this collaboration, which will provide local financing to help customers in Hawaii protect themselves from rising electricity costs through clean, homegrown energy provided by SolarCity’s local workforce.”

– Jon Yoshimura, director of government affairs for SolarCity

 

Impact

  • Provides a projected 3.4 megawatts of solar electricity generation to contribute to the state’s goal of achieving 70 percent clean energy by the year 2030
  • Creates a partnership structure using available incentives to help attract more institutional capital to innovative projects and catalyze others to replicate this structure to expand solar development
  • Improves Hawaii’s energy sustainability and security while creating jobs in our community

At a Glance

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Investment Area
Energy
Financial Model
For-Profit
 
Total Investment
$15,000,000
Website
SolarCity.com