Hawaii Pacific Solar came in 28 of 50 fastest growing companies in Hawaii for 2016 with a growth rate of 106.75% from 2013-15. CEO and president Bob Johnston said a combination of factors contributed to the company’s growth: “Specifically, the lower cost of photovoltaic (PV) panels and the extension of the federal tax credit and continuation of the state tax credit which make PV projects more affordable. Hawaii Pacific Solar is also lucky to have the strong support from its customers and as a result, we are experiencing high levels of repeat and referral business.
“Underlying all of the above for this year and for coming years is the commitment by the State of Hawaii to achieve 100 percent renewable energy use in the electricity sector by 2045. For next year, Hawaii Pacific Solar’s growth is fueled by our joint venture with South Maui Renewable Resources ad Ku’ia Solar to construct two solar farms on Maui, which will provide up to nearly six megawatts of solar power to Maui Electric’s grid. The savings will be passed on to consumers,” he said.
When asked about future opportunity, Johnston talked about changes in utility interconnection programs. “Now that HECO/MECO/HELCO’s Net Metering program has expired and the Customer Grid Supply program is full or nearing capacity, the next opportunity for growth in the industry is Customer Self Supply or where each new system must be designed so there is no export of power to the grid. This will encourage the use of storage to capture excess power generated during the solar day to be used in evening or rainy days.”