Hawaiian Electric Company (HECO) is a major electric utility company based in Honolulu, Hawaii. The company provides electricity to over 95% of Hawaii's population, making it a vital part of the state's infrastructure. HECO is part of the Hawaiian Electric Industries (HEI) family of companies, which also includes Maui Electric Company and Hawaii Electric Light Company.
As the world continues to grapple with the effects of climate change, HECO has been at the forefront of efforts to decarbonize the energy sector. In 2015, Hawaii became the first state in the US to set a goal of achieving 100% renewable energy by 2045. HECO has been working to meet this goal by investing in renewable energy sources such as solar, wind, and geothermal power.
One of HECO's key strategies for achieving decarbonization is through the use of corporate power purchase agreements (PPAs). These agreements allow companies to purchase renewable energy directly from HECO, rather than relying on the traditional power grid. By using corporate PPAs, companies can reduce their carbon footprint and support the growth of renewable energy in Hawaii.
HECO has also been working to reduce its own carbon footprint through the use of corporate energy programs. These programs encourage companies to adopt energy-efficient practices and invest in renewable energy sources. HECO offers a range of services to help companies achieve their energy goals, including energy audits, rebates, and incentives.
In addition to its work on decarbonization, HECO has also been a leader in the development of renewable energy technologies. The company has invested in a number of innovative projects, including the world's largest lithium-ion battery storage system. This system, located on the island of Oahu, can store up to 30 megawatts of electricity and help to stabilize the grid during periods of high demand.
HECO has also been a strong advocate for renewable energy at the state and national level. The company has worked with policymakers to develop policies that support the growth of renewable energy, including tax incentives, grants, and loan programs. HECO has also been involved in efforts to promote the use of electric vehicles in Hawaii, which can help to reduce the state's dependence on fossil fuels.
Overall, HECO has been a key player in the transition to a more sustainable energy system in Hawaii. The company's commitment to decarbonization, corporate energy programs, and renewable energy technologies has helped to position Hawaii as a leader in the fight against climate change. As the world continues to grapple with the effects of climate change, HECO will likely continue to play a vital role in shaping the future of the energy sector.