Renewable Energy Forum

On June 26th, located at the J. Walter Cameron Center Auditorium, officials will be discussing how Maui can be powered 100% renewable energy. Maui Electric Co., Maui Tomorrow and the Sierra Club will be discussing how to make this a reality at the event titled “100% Renewable Energy: What Will Maui Look Like?”.

Maui reached 38% renewable energy production back in 2018. Over the goal of 30% by 2020. Panelists will discuss and share what can be done to work toward the 100% renewable energy goal by 2045. The need is for carbon-neutral power, and technology that includes solar and wind.

Light refreshments will be served at 5:30 pm prior to the 6:00 pm start time. This is a free event that is open to the public.

Large Scale Solar Project

This past Saturday started Maui’s first large solar project partnership between Maui Electric Company and Kenyon Energy. Maui Electric is buying power from Kenyon’s South Maui Renewable Resources.  The project can possibly generate up to 2.87 megawatt of solar power that is then delivered to Maui Electric’s grid for roughly 11 cents per kilowatt-hour.

Maui is ahead of the 30% target they set for themselves getting 34% of its energy from renewable resources. Those resources include wind, hydroelectric, biofuels , and solar. Maui Electric will begin purchasing more power from an additional Kenyon project later this month.

Solar Stocks Surge On Tax Extension

Renewable Energy Extension Tax Credit will extend the tax credit to 2023.  Previously the credit was only good through December 31, 2016.  With news of the impending extension, solar companies stock saw a surge.  Solar City had the highest with 34.1 %.  With the new extension in place, solar companies will be targeting expansion geographically.  System wattage size is likely to increase as well.

Solar companies such as Solar City and Sunrun have been lobbying for the extension on Capitol Hill.  Those in the solar industry are expecting a jump in growth over the next few years with the news.  More Information available on Investor.com here.