Financing Programs
GreenSun Hawaii
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Property Owners |
Lenders |
Energy Contractors |
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Become an Authorized Contractor
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GreenSun Hawaii is a credit enhancement program administered by Hawaii Community Reinvestment Corporation (HCRC), and contracted by the State of Hawaii, to provide local financial institutions with access to a loan loss reserve (LLR) which may cover up to 100% of actual losses on eligible energy efficiency/renewable energy system financing. As part of Hawaii’s Clean Energy Initiative which aims to achieve 70% clean energy by the year 2030, GreenSun Hawaii was created to reduce risks for participating financial institutions, and thus enable them to extend loan availability to a larger pool of customers, offer them the most aggressive loan terms and interest rates possible and/or access to capital that may not otherwise be available without this credit enhancement.
Funded by a grant from the U.S. Department of Energy (Recovery Act Funds), this public – private partnership has the ability to leverage $2.67 million in federal funds into some $53.0 million in energy efficiency equipment loans statewide.
Residential Property Owners:
- The GreenSun Hawaii Loan program offers a variety of option for homeowners to install energy efficiency and renewable energy improvements.
- Installations eligible for Financing:
- ENERGY STAR Refrigerator or ENERGY STAR air conditioner
- Solar Thermal Hot Water System or heat pump (if the home possesses an ENERGY STAR refrigerator, and as applicable an existing ENERGY STAR air conditioner)
- Solar Electric (Photovoltaic) System (if the home possesses an Energy Star rated refrigerator, and as applicable, an existing ENERGY STAR air conditioner; and a solar hot water system, gas water heater or tankless hot water system)
- Installations eligible for Financing:
- Find a GreenSun Hawaii authorized contractor to get started.
- Please note that the selection of the Energy Contractor, equipment installed and work performed is the responsibility of the property owner. HCRC encourages you to complete your due diligence in selecting a GreenSun Hawaii authorized contractor that best fits your needs. HCRC and its participating lenders do not endorse any particular authorized contractor nor does it guarantee the performance, quality, or workmanship of the installations.
- Apply for a GreenSun Hawaii loan either directly with a participating Lender of your choice, or via the convenience of the GreenSun Hawaii Online Loan Application. This simple and easy to use online application process allows you to simultaneously apply with up to three participating Lenders for your financing needs.
- Please note that the selection of the participating Lender is the responsibility of the property owner. HCRC encourages you to complete your due diligence in selecting a participating Lender that best fits your needs. HCRC and its authorized contractors do not endorse any particular participating lender nor does it guarantee its service.
Questions? Contact HCRC at 808-532-3110 or This email address is being protected from spambots. You need JavaScript enabled to view it.
Non-Residential Property Owners:
- Business owners, nonprofit executives and multi-family property owners (including AOAOs) should contact a participating lender directly to apply for an energy efficiency/renewable energy loan under the GreenSun Hawaii program.
- Please note that the selection of the participating Lender is the responsibility of the property owner. HCRC encourages you to complete your due diligence in selecting a participating Lender that best fits your needs. HCRC and its authorized contractors do not endorse any particular participating lender nor does it guarantee its service.
- Installations eligible for financing
- Working with Hawaii Energy or Kauai Island Utility Cooperative, a GreenSun Hawaii authorized contractor shall conduct an energy assessment on your facility.
- Please note that the selection of the Energy Contractor, the equipment installed and the work performed is the responsibility of the property owner. HCRC encourages you to complete your due diligence in selecting an GreenSun Hawaii authorized contractor that best fits your needs. HCRC and its participating lenders do not endorse any particular authorized contractor nor does it guarantee the performance, quality, or workmanship of the installations.
- Eligible expenses/installations shall be based on the cost-benefit recommendation of the energy assessment and may include:
- Lighting Retrofits/Upgrades
- Air Conditioning Retrofits/Upgrades
- Solar Thermal Systems
- Solar Electric Systems
- Energy Efficiency Windows
- Fees related to the loan program, including but not limited to loan fees, documentation fees, and other loan closing costs
Questions? Contact HCRC at 808-532-3110 or This email address is being protected from spambots. You need JavaScript enabled to view it. .
FAQs for customers
Energy Saving Tips
- DOE Energy Efficiency and Renewable Energy
- Energy Star
- Hawaii Clean Energy Initiative – Conserve Energy at Home
- Hawaii Clean Energy Initiative – Conserve Energy at Work
- Hawaii Clean Energy Initiative – Conserve Energy on the Road
Questions? Contact HCRC at 808-532-3110 or This email address is being protected from spambots. You need JavaScript enabled to view it. .
GreenSun Hawaii Operational Guidelines & Other Program Information
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GreenSun Hawaii Loan Loss Reserve Operational Guidelines - This is the ruling document detailing program requirements for Participating Lenders and Authorized Contractors. The Operational Guidelines may be updated from time to time, however, the most current version of the Operational Guidelines, procedures and forms for the GreenSun Hawaii program will be available on this website. Within this document, refer to:
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Exhibit "1" - Legacy & CAP Program Matrix - for details about the unique features and benefits of the Legacy and CAP Programs, in an easy to read, comparison chart; and
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Exhibit "2" - Approved Rates & Terms - which provides the most up to date approved rate and term variations for the GreenSun Legacy Program.
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Additional Contractor applications are currently being processed. The Authorized Contractor List will be updated on a regular basis.
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General Information
- Only loans that finance energy efficiency/renewable energy systems installed by a GreenSun Authorized Contractor are eligible for the loan loss reserve credit enhancements.
- To enable your customers access to the variety of local financing options available under the GreenSun Hawaii loan program, apply today to become a GreenSun Hawaii authorized contractor.
Questions? Contact HCRC at 808-532-3110 or This email address is being protected from spambots. You need JavaScript enabled to view it. .
Contractor Application
- To become a GreenSun Authorized Contractor, review the GreenSun Hawaii Loan Loss Reserve Program Operational Guidelines and the Contractor Application Packet. Complete and submit the following forms:
- Application to Become An Authorized Contractor
- Check payable to Hawaii Community Reinvestment Corporation for $25.00 (non-refundable processing fee)
- Request for Certificate of Insurance Form
After your application is accepted, you will be notified of available training dates and locations. Attendance at the training is required to participate in this program.
Questions? Contact HCRC at 808-532-3110 or This email address is being protected from spambots. You need JavaScript enabled to view it. .
Procedures and Forms
HCRC will provide Authorized Contractors with a detailed training on the eligibility, compliance and other procedures of the Program.
Forms you will need on an ongoing basis for GreenSun Hawaii energy installations are:
Marketing Information
GreenSun Hawaii authorized contractors should promote the GreenSun Hawaii Loan Program to customers. Authorized contractors may create their own marketing materials using the GreenSun Hawaii - Stacked or GreenSun Hawaii - Horizontal logos.
A GreenSun Hawaii brochure is also available for program marketing purposes.
Questions? Contact HCRC at 808-532-3110 or This email address is being protected from spambots. You need JavaScript enabled to view it. .
Additional Participating Financial Institutions are under consideration. The Participating Financial Institution List will be updated on a regular basis.
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To Become a Participating Lender
GreenSun Hawaii makes credit enhancements available to federally insured banks, federally insured credit unions, City/County Housing or Community Development Agencies and Community Development Financial Institutions to support financing for energy efficiency and renewable energy installations. With GreenSun Hawaii, Participating Lenders are able to offer the most competitive financing packages and/or access to capital to their customers.
Becoming a Participating Lender is as easy as 1 - 2 - 3:
1. Review the GreenSun Hawaii Operational Guidelines;
2. This email address is being protected from spambots. You need JavaScript enabled to view it. to obtain a Loan Loss Agreement ("Agreement");
3. Sign and return the Agreement to HCRC along with a copy of your institution's Collection Policy.
Upon receipt of your executed Agreement and Collection Policy, HCRC will schedule a training for your financial institution.
Procedures and Forms
GreenSun Hawaii Procedures for Lenders will be explained in detail during the Lender Training. Program Forms to be used by Participating Lenders:
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GreenSun Hawaii Loan Eligibility Checklist
- An easy, 6-step checklist to ensure your loan is eligible for the GreenSun Hawaii program
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Loan Approval Letter Template
- Provide to approved borrowers to specify rates, terms and conditions of the approved loan.
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Borrower's Certification and Notice
- For CAP Loans only - Have Borrower sign and keep in loan file.
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Loan Enrollment Form
- For CAP Loans only - Submit completed Form to HCRC when loan is funded.
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Lender Monthly Report Template
- Use this template to report your loan activity to HCRC. Monthly reports must be submitted by the 10th day following the end of the month.
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Loss Claim Template
- Use this template to invoice HCRC for a claim on the lender’s loan loss reserve balance for actual losses incurred by the participating lender.
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Special CAP Claim Form
- For CAP Loans only - to claim past losses from current Reserve Account Balances
Questions? Contact HCRC at 808-532-3110 or This email address is being protected from spambots. You need JavaScript enabled to view it. .
Marketing Information
GreenSun Hawaii participating lenders should promote the GreenSun Hawaii Loan Program to their customers. Participating lenders may create their own marketing materials using the GreenSun Hawaii logo (stacked) or GreenSun Hawaii logo (horizontal) logos.