We have a big decision to make: Should we, or should we not,
continue with our plans to build a hydroelectric plant?
There are changes in the air with the recent energy agreement signed between the State of Hawai‘i, the group of companies under HEI and the consumer advocate.
All activity under Schedule Q, which allows electricity to be sold back to the utility company, has been suspended until the incentive program, or feed-in tariffs, for the power company’s buying back of renewable energy is defined and in place. The PUC has directed that the utilities develop the feed-in tariffs by July.
Under “net energy metering” in the current arrangement, any excess energy we generate would go to the utility for free. That is very risky for us, as our plan calls for us to use that money from selling back electricity to help make our loan payments.
How sure can I be that the agreement will go through? How certain can I be that the July deadline will not be extended?
Can I afford to make loan payments on a million dollar loan without an agreement in hand?
If I wait, the funding may run out.
I just laid off 20 people; can I gamble?
On the other hand, if I go ahead and then everything falls in place, maybe I won’t have to sell off parcels of land. If it becomes necessary to sell our land a parcel at a time, sooner or later it will be our irreversible journey out of agriculture.
What to do?
Sounds like tough decisions ahead. Not likely to get any easier for a while either.
Considering install of a photovoltaic system on the house. But not certain about it just yet. The solar hot water decision was easy. PV looks to be a bit more difficult, particularly in light of the evolving rules. If cell prices come down in the near future I just may have to give it a go.
I think it would be very smart to be extremely cautious with the power company. They tend to outwait situations. They have the money and the time to do so.
I think that we are all chomping at the bit to do renewables. But, we do need clarity!!