The 218-kilowatt photovoltaic (PV) system is expected to be in service by the end of 2008. Hawaiian Electric initiated the Archer substation project to increase its use of renewable energy and gain experience with photovoltaic development, economics, performance, and operations and maintenance.
Additionally, long-term, fixed energy pricing for renewable energy is part of Hawaiian Electric’s effort to secure renewable energy at costs not tied to oil prices. PV is among renewable technologies not facing fuel costs which may vary from year to year. The utility will have an option to purchase the system from Hoku after five years.
Dustin Shindo, chairman, president and CEO of Hoku Scientific, said: We are excited to move this project beyond the planning stages to proceed with the installation of our PV system for Hawaiian Electric.
We expect that the success of this project will encourage other Hawaii businesses to install PV systems as a way to lower their energy costs, while reducing Hawaii’s dependence on imported oil and increasing the use of clean and renewable power.
