Opinion ID: 3050656
Heading Depth: 3
Heading Rank: 4

Heading: HECO Payments

Text: According to the parties’ stipulation, in 1999 the Hawaii Electric Company (HECO) issued a Form 1099 NEC (NonEmployee Compensation) reporting $195,275 in income earned by Mercury Solar. Regarding these payments, Sparkman later testified: I do know that Mercury Solar in its transaction with Hawaiian Electric Company wanted to be paid faster. . . . [W]henever someone installs a solar system via the Hawaiian Electric company rebate program either the contractor or the homeowner is entitled to an $800 cash subsidy. However, through its bureaucratic process Hawaiian Electric sometimes doesn’t pay anywhere between 120 to 60—six months. SPARKMAN v. CIR 16175 Mercury . . . sought out a factoring company that would take that receivable and pay it in cash . . . . And how it worked was Mercury submitted invoices that it was owed by Hawaiian Electric Company to ABA Funding and ABA Funding took a percentage of the $800 rebate . . . and then HECO sent ABA funding a check made payable to Mercury Solar which ABA Funding cashed . . . . And apparently mid-1999 ABA Funding or Mer- cury Solar or HEH decided they wanted the funds directed into the Hawaii Environmental Holdings account instead of the Mercury Solar account.