California firm funds 2 solar projects in isles

Santa Barbara, Calif.-based Wiser Capital said Wednesday it has funded two large-scale commercial solar projects in Hawaii as it looks to service more commercial photovoltaic in the state.

Wiser Capital, a financial services firm specializing in solar, has invested more than $3.6 million in five solar systems in three different states with nearly half of that going to Hawaii.

The Polo Beach Club, a homeowner association on Maui, is slated to have a 160-kilowatt solar system made up of 510 panels. Kuakini Power Self Storage will have a 240-panel system installed by Solar Plus Kauai. Doug Phillips, owner of Solar Plus Kauai, said the system is expected to be connected by the end of this month.

HNu Energy, a Maui-based company that specializes in solar voltaics, will install the system at the Polo Beach Club. That system is expected to decrease costs by more than $40,000, or almost a third of the club’s current electricity bill, said Wiser Capital.

Wiser Capital said the solar system’s host facilities will see cost savings within the first year.

The financing firm said it plans to continue to invest in solar projects in Hawaii.

“We have quite a few projects in the works in Hawaii,” said Megan Birney, director of strategic affairs at Wiser Capital. “There are a lot of facilities like these two — small businesses, resorts, municipal operations and other homeowner associations.”