Hawaii is offering $2 billion in renewable energy subsidies over the next five years, according to the state’s Department of Finance.

Hawaii is offering more than $2.8 billion in solar energy credits over the same time period.

The state will receive about $2,500 per megawatt hour in renewable electricity subsidies over those five years.

State Treasurer Michael Wirth said the state will provide $1.7 billion in additional solar energy projects to help the state meet the needs of its population.

Wirth said Hawaii will invest $300 million over the coming five years in projects that help meet its ambitious renewable energy targets.

Wiring up solar installations and generating more solar energy in the state is one of the main strategies being utilized to reach the renewable energy goals.

The Hawaii Department of Energy said solar installations will grow from just about 4,000 to 6,400 over the period.