Mission
The mission of Hawaii Renewable Energy Development Venture (HREDV) is to accelerate the development of viable renewable energy and energy efficiency technologies in Hawaii and to help businesses successfully commercialize these innovations.
Implementation
HREDV implements this mission by co-funding innovative clean energy project, providing training and dedicated consulting services to emerging technology businesses, and supporting energy technology companies in finding strategic partners. HREDV is based in Honolulu, HI, and is funded by the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy. HREDV is a project of the Pacific International Center for High Technology Research (PICHTR).
Hawaii Energy Context
Hawaii is dependent on oil for 85% of its energy needs. This leaves Hawaii vulnerable to price volatility and supply disruptions – and results in $5-7 billion being sent out of the state’s economy every year for oil. In partnership with the U.S. Department of Energy, the State has committed to transition to 70% clean energy in the electricity and transportation sectors by 2030. This initiative will require over $20 billion of private investment. Yet meeting the State’s aggressive goals will likely require inventions that have not yet become commercial products, and enterprises that have not yet become fully developed businesses. The Hawaii Renewable Energy Development Venture was created to help address this need.
Video Overview of HREDV
HREDV Roadmap
The mission and operation of HREDV is further articulated in the HREDV Roadmap, which was developing in Fall 2009 to provide a clear and transparent plan, to help businesses understand how to engage with the program, and to demonstrate how HREDV fits in the context of other clean energy activities in the state. A series of appendices provides additional information: Appendix A: Catalog of Hawaii Energy Stakeholders; Appendix B: DOE – State MOU for the Hawaii Clean Energy Initiative; Appendix C: State – HECO Renewable Energy Framework Agreement; Appendix D: Detailed technical assessments for technologies such as solar thermal, hydro, energy storage, and electric vehicles; Appendix E: HREDV Selection Criteria Considerations; Appendix F: 2009 HREDV Draft RFP; Appendix G: HREDV Draft Full Proposal Process.