Hawaii Revised Statutes 196-19 – Life-cycle cost analysis
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Terms Used In Hawaii Revised Statutes 196-19
- Energy: means work or heat that is, or may be, produced from any fuel or source whatsoever. See Hawaii Revised Statutes 196-2
- Life-cycle costs: means the sum of the present values of investment costs, capital costs, installation costs, energy costs, operating costs, maintenance costs, and disposal costs, over the lifetime of the project, product, or measure. See Hawaii Revised Statutes 196-11
- Renewable energy: means energy produced by solar, energy conserved by passive solar design/daylighting, ocean thermal, wind, wave, geothermal, waste-to-energy, or biomass power. See Hawaii Revised Statutes 196-11
Agencies shall use life-cycle cost analysis in making decisions about their investments in products, services, construction, and other projects to lower the State’s costs and to reduce energy and water consumption. Where appropriate, agencies shall consider the life-cycle costs of combinations of projects, particularly to encourage bundling of energy efficiency projects with renewable energy projects.
Agencies shall retire inefficient equipment on an accelerated basis where replacement results in lower life-cycle costs. Agencies that minimize life-cycle costs with efficiency measures shall be recognized in their scorecard evaluations established under section 196-17(a).