Hawaii is aiming to diversify its energy sources by utilizing more locally produced renewable energy sources at lower, more stable prices. This shift away from oil-based electricity generation could help reduce the energy burden of customers with low or moderate incomes. Hawaiian Electric has developed models that demonstrate that, while energy rates may increase in the short term, they will be lower and less volatile in the long run. For this plan to be successful, Hawaiian Electric must take immediate action.
This includes improved energy policies, coordination of regulatory processes, and strong community participation. Hawaiian Electric is taking steps to make sure that its renewable energy sources are compatible with existing infrastructure. This includes investing in new technologies and systems that can integrate renewable energy sources into the grid. The company is also working to enhance the efficiency of its existing infrastructure so that it can better handle the increased demand for renewable energy.
Hawaiian Electric is also researching ways to reduce the cost of renewable energy sources. This includes investing in research and development to find new ways to generate renewable energy at a lower cost. The company is also looking into ways to store excess energy generated from renewable sources so that it can be used when needed. Finally, Hawaiian Electric is collaborating with local communities to ensure that they are aware of the benefits of renewable energy and how it can help reduce their energy costs. The company is also working with local governments to create incentives for businesses and homeowners to invest in renewable energy sources.