Molly Ayala
Hawaiian Electric Industries, Inc. (HEI) is the largest supplier of electricity in Hawaii, providing power to 95% of the state's population. HEI was created in 1983 as a holding company for Hawaiian Electric Company (HECO), serving Oahu; Hawai'i Electric Light Company, serving The Big Island; and Maui Electric Company, serving Maui, Lanai, and Molokai. Hawaiian Electric has a rich history dating back to 1891 and is committed to empowering its customers and communities by providing affordable, reliable, and sustainable energy. The company has made significant strides in clean energy, with a goal of achieving 100% renewable energy and has been recognized for its contributions to the community and educational programs. However, it has also faced challenges, including lawsuits and investigations into the cause of the deadly 2023 wildfires on Maui. With a focus on electrification and clean energy sources, Hawaiian Electric aims to power generations of Hawaii's families and businesses.
| Characteristics | Values |
|---|---|
| Is Hawaiian Electric the only electricity company in Hawaii? | No, Hawaiian Electric Industries (HEI) is the largest supplier of electricity in Hawaii, but there are other companies. |
| How much of the market does HEI have? | HEI supplies power to 95% of Hawaii's population. |
| How many people does that equate to? | 1.4 million people |
| Which areas does HEI serve? | Oahu, Hawaii Island, Maui, Lanai, and Molokai |
| What are the names of the companies that make up HEI? | Hawaiian Electric Company (HECO), Hawaii Electric Light Company (HELCO), and Maui Electric Company (MECO) |
| How many people do these companies employ? | Over 2,000 |
| How many Hawaii residents are shareholders of HECO's parent company? | Approximately 20,000 |
| What is the parent company's name? | Hawaiian Electric Industries, Inc. |
| Does HEI own any other companies? | Yes, it owns American Savings Bank and Pacific Current LLC, a clean energy and sustainability company. |
| What is the goal of HEI's companies? | To provide affordable, reliable, clean, and sustainable energy to Hawaii. |
| What is the target for renewable energy? | In 2015, Hawaii set a goal of 100% renewable energy, and HEI has indicated it will achieve this ahead of schedule. |
| What is the current renewable energy percentage? | In 2023, power handled by HEI was 33.3% renewable. |
| What is the record for renewable energy in Hawaii? | On April 25, 2023, Hawai'i Island generated a peak of 92.3% renewable power. |
| What is the target for electric vehicles? | The company's goal is to have the majority of vehicles in Hawaii be electric by 2045. |
Explore related products
What You'll Learn
- Hawaiian Electric Industries (HEI) is the largest electricity supplier in Hawaii
- HEI supplies power to 95% of Hawaii's population
- The company has a goal of having the majority of vehicles in Hawaii be electric by 2045
- In 2023, 33.3% of power handled by HEI was renewable
- Hawaiian Electric supports community and educational programs
Hawaiian Electric Industries (HEI) is the largest electricity supplier in Hawaii
Hawaiian Electric Industries, Inc. (HEI) is the largest electricity supplier in the U.S. state of Hawaii, serving 95% of the state's 1.4 million residents. HEI was created in 1983 as a holding company for Hawaiian Electric Company (HECO), Hawai'i Electric Light Company (originally Hilo Electric Light Company), and Maui Electric Company. HECO serves the island of Oahu, Hawai'i Electric Light Company serves The Big Island, and Maui Electric Company serves Maui, Lanai, and Molokai.
HEI has a history dating back to the late 19th century, with King Kalakaua meeting Thomas Edison to see the incandescent light bulb in 1881. The company was established in 1891 and has been meeting the demand for power that has fuelled the growth of the Hawaiian Islands for over a century.
Hawaiian Electric is committed to providing affordable, reliable, clean, and sustainable energy to its customers and communities. The company has made significant strides towards reducing Hawaii's heavy dependence on fossil fuels and has embraced renewable energy sources. In 2023, 33.3% of the power handled by HEI was renewable, with Hawai'i Island setting a record for the company by generating a peak of 92.3% renewable power on April 25, 2023.
Hawaiian Electric has also been working to support the adoption of electric vehicles in the state. The company has set a goal of having the majority of vehicles in Hawaii be electric by 2045. Additionally, Hawaiian Electric has pledged an all-electric passenger fleet by 2035 and has joined a nationwide collaborative commitment to the electrification of transportation.
The company employs more than 2,000 people and is one of Hawaii's leading employers. Approximately 20,000 Hawaii residents are shareholders of HECO's parent company, HEI.
Electric Companies: Paying for Dis, Worth It?
You may want to see also
Explore related products
HEI supplies power to 95% of Hawaii's population
Hawaiian Electric Industries, Inc. (HEI) is the largest supplier of electricity in Hawaii, providing power to 95% of the state's population. HEI was formed in 1983 as a holding company for Hawaiian Electric Company (HECO), Hawaii Electric Light Company (originally Hilo Electric Light Company), and Maui Electric Company. These subsidiaries of HEI collectively serve the islands of Oahu, Maui, Hawaii, Lanai, and Molokai.
HEI's electric utilities play a significant role in Hawaii's transition to clean and renewable energy. In 2008, HEI and its subsidiaries signed a Clean Energy Agreement with the state, aiming for 70% of the state's electricity and ground transportation needs to be met by clean energy sources by 2030. This commitment to clean energy is evident in several initiatives, such as the West Loch Solar Project, a collaboration with the U.S. Department of the Navy, and the approval of the state's first community solar project, Mililani Tech Solar I.
HEI has also embraced the adoption of electric vehicles, supporting the development of an electric vehicle industry in Hawaii through the Hawai'i Electric Vehicle Demonstration Project (HEVDP) consortium. The company set an ambitious goal of making the majority of vehicles in Hawaii electric by 2045.
In addition to its core business of providing electricity, HEI owns a financial institution, American Savings Bank, and a clean energy and sustainability company, Pacific Current LLC. The company is committed to empowering its customers and communities by providing affordable, reliable, and sustainable energy. With a rich history dating back to 1891, HEI has been meeting the power demands that have fuelled the growth of the Hawaiian Islands for over a century.
How to Find Out Your Home's Electric Provider
You may want to see also
Explore related products
The company has a goal of having the majority of vehicles in Hawaii be electric by 2045
Hawaiian Electric Industries, Inc. (HEI) is the largest electricity supplier in Hawaii, serving 95% of the state's population. The company has a goal of having the majority of vehicles in Hawaii be electric by 2045. This is in line with Hawaii's state goals to reduce greenhouse gas emissions by 50% below 2005 levels by 2030 and to achieve 100% renewable energy by 2045.
To achieve this, the Hawaii Department of Transportation (HDOT) and the Hawaii State Energy Office (HSEO) must work together to ensure sufficient EV charging infrastructure and develop plans to increase the state's electric charging capacity. As of 2018, electric vehicles (EVs) made up only 1% of all vehicles in Hawaii, but the state has seen an increase in the adoption of EVs, with about 5,000 rechargeable vehicles as of 2017.
Hawaiian Electric has filed a roadmap with the state, outlining how it plans to utilize growing EV adoption to lower system costs and bring more rooftop solar onto the grid. The company foresees $60 million in benefits to its customers over the next 27 years, including avoided gasoline and vehicle maintenance costs. On Oahu, the transition to electric vehicles could benefit the broader economy by more than $200 million.
Hawaiian Electric is not the only electric company in Hawaii, as Maui Electric Company, Hawai'i Electric Light Company, and Hawaii Energy also provide electricity to the state. However, as the largest supplier, Hawaiian Electric's efforts to boost EV adoption and support renewable energy sources will be crucial in helping Hawaii achieve its goal of 100% renewable energy by 2045.
The Iconic Symbol of Southern California Edison Company
You may want to see also
Explore related products
In 2023, 33.3% of power handled by HEI was renewable
Hawaiian Electric Industries, Inc. (HEI) is the largest supplier of electricity in Hawaii, serving 95% of the state's population. It was created in 1983 as a holding company for various utilities, including the Hawaiian Electric Company (HECO), which serves Oahu; the Hawai'i Electric Light Company, which serves the Big Island; and the Maui Electric Company, which serves Maui, Lanai, and Molokai.
In 2023, 33.3% of the power handled by HEI was renewable. This included energy from grid-scale solar generation, such as the Waiawa Solar Power facility, which came online in January 2023, and the Waikoloa Solar facility, which achieved commercial operations in April of the same year. Additionally, new customer-sited energy resources (private rooftop solar) installations contributed to the increase in renewable energy generation. The energy generated using renewable resources increased by 123,362 MWh, a 3.8% increase compared to 2022.
Hawai'i Island set a record for HEI, generating a peak of 92.3% renewable power on April 25, 2023. In total, HECO generated 10.2 TWh of energy in 2023, of which 3.4 TWh was renewable, and the remaining 6.8 TWh came from oil. HEI and its subsidiaries have been working to add more renewable energy sources to meet their goals and Hawaii's renewable energy targets.
One of the initiatives to promote renewable energy is the Hawai’i Electric Vehicle Demonstration Project (HEVDP) consortium, a cooperative effort between HECO and the High Technology Development Corporation (HTDC), an agency of the State of Hawai’i. The project aims to develop an electric vehicle industry in Hawai’i, and as of 2017, there were about 5,000 rechargeable vehicles in the state. Hawaiian Electric has also indicated in its Power Supply Improvement Plan that it is on track to achieve the state's goal of 100% renewable energy ahead of schedule.
Electric Companies: Federal Ownership and Control Explored
You may want to see also
Explore related products
Hawaiian Electric supports community and educational programs
Hawaiian Electric, the largest electricity supplier in Hawaii, is committed to empowering its customers and communities by providing affordable, reliable, clean, and sustainable energy. The company supports community and educational programs to foster a better future for Hawaii and strengthen its ties with the community.
The company's community service initiatives involve increased outreach activities and partnerships with government and community organisations. Hawaiian Electric sponsors numerous educational programs to engage children of all ages on topics such as energy, renewable energy, technology, engineering, math, science, emergency preparedness, electrical safety, and the environment. Their commitment to education reaches more than 65,000 students and teachers annually.
Hawaiian Electric offers distance learning resources, including virtual presentations and Q&A sessions, to provide educational content relevant to students and teachers. They have developed videos and booklets for different grade levels, covering careers at Hawaiian Electric, emergency preparedness tips, and the basics of electricity and renewable energy. The company also provides an energy savings toolkit with guides, calculators, and monitors to help manage energy use efficiently.
The company's support for renewable energy is evident in its Power Supply Improvement Plan, which aims to achieve 100% renewable energy in Hawaii ahead of schedule. In 2023, Hawaiian Electric set a record by generating 92.3% renewable power on Hawaii Island, with 3.4 TWh of renewable energy out of a total generation of 10.2 TWh. The company also promotes the adoption of electric vehicles and has filed a roadmap with the state to work towards its goal of making the majority of vehicles in Hawaii electric by 2045.
Finding the Right Electric Company for 98226
You may want to see also
Frequently asked questions
No, it is not. While Hawaiian Electric Industries, Inc. (HEI) is the largest supplier of electricity in the U.S. state of Hawaii, serving 95% of the state's population, there are other electric companies on the islands.
There are at least two other electric companies in Hawaii: Kauai Island Utility Cooperative (KIUC) and The Gas Company (also known as Hawaii Gas).
Hawaiian Electric has implemented several initiatives to promote sustainability and reduce Hawaii's dependence on fossil fuels. Some of these initiatives include:
- Collaborating with the U.S. Department of the Navy on the 20-MW West Loch Solar Project.
- Approving the state's first community solar project, Mililani Tech Solar I.
- Pledging an all-electric passenger fleet by 2035.
- Supporting educational programs such as FIRST Robotics and Solar Sprint to encourage students' interest in science, math, and renewable energy.
Hawaiian Electric has set ambitious goals for renewable energy. In 2015, the company indicated in its Power Supply Improvement Plan that it would achieve the state's goal of 100% renewable energy ahead of schedule. Additionally, the company aims to have the majority of vehicles in Hawaii be electric by 2045.
In 2023, brush fires ignited on Maui, causing widespread damage and leaving thousands without power. Investigations are underway to determine if downed power lines and decisions by Hawaiian Electric contributed to the cause of the wildfires. The company also faced a challenge in 2016 when the merger with NextEra Energy was cancelled after the Public Utilities Commission disapproved the deal.
