The state Public Utilities Commission on Monday approved Heco's "demand-side management" program to increase energy efficiency in businesses so the company can better control demands for electricity and delay construction of expensive power plants.
About 40,000 commercial and industrial customers will be eligible for $30 million in financial incentives over the next five years, including $16 million in rebates, Heco said. The businesses will receive incentives for installing energy efficient products, technologies, and equipment such as lighting, motors and air conditioning.
"Offering incentives to customers to reduce their electricity usage is new for our business," Heco President Mike May said in a written statement. "Traditionally, utilities have handled growth by building more power plants. In Hawaii, we've got to be more creative."
O'Connell said the rebates will be made on a first-come, first-served basis. They will be
limited to $50,000 per project, amounting to 20 percent to 40 percent of the total cost.
He said the residential portion of the program is still pending before the PUC. It involves $36 million in incentives for residential customers over five years. About 225,000 Heco customers will be eligible for that program.
For more information, call 543-4743.