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Posted: Wednesday, June 11th, 2014 11:16 AM HST

Abercrombie seeks clean energy financing approval

By Associated Press

HONOLULU (AP) The state is asking the Public Utilities Commission to approve Gov. Neil Abercrombie's plan for clean energy financing.

The State Energy Office said Monday the administration wants to make low-cost financing for solar panels and other clean energy technologies available to utility customers.

The plan calls for the state to issue up to $150 million in Green Infrastructure Bonds.

Local financial institutions, solar finance companies and other lenders would use the bond proceeds to make loans. Consumers could repay the loans over time with electricity bill savings.

The bonds would be secured by a Green Infrastructure Fee on ratepayers. The Public Benefits Fee ratepayers currently pay would be lowered to offset the new fee.

The energy office says the changes in fees should have little or no impact on ratepayers.

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