After proposing a condominium-style, fee-simple solar farm to Hawaiian Electric (HECO) in late 2022 and making it through the first round of bidders, developer Peter Savio plans to put his yet-to-be-located development out to bid to Hawaii solar companies and contractors if selected by HECO in early Q1 2023 for its Community-Based Renewable Energy program.
About one hundred solar farms are needed for Hawaii’s communities, Savio says. “We want to find a way through community solar to give everyone a chance to have clean affordable energy that supports both the environment and our local economy through this project.” Savio will sell shares of a project to people who do not have solar or access to solar for their homes, condos and businesses. Energy generated will be sold to HECO by Savio Solar Farms. HECO will provide the solar condo shareholder with a credit in the same amount on their electric bill. If shareholders move to another location within the state, they can take the share with them to their new property. Also, since the project is fee-simple, shareholders can sell their share of the solar panels and the land beneath it. “…Many companies providing solar here are sending proceeds to the Mainland and not supporting our local economy,” says Savio.
