Hawaiian energy showdown?

Sorta. Today, Jim Cramer gave a thumbs' up to Hawaiian Electric during the "Lightning Round" on Mad Money.

HECO reported a dismal Q2 recently, and as a resident of Oahu, I'm not surprised. How is any utility here supposed to grow when population growth is stagnant? On the other hand, HECO has a partnership with Hoku Scientific in regard to solar panels. So I wonder, which is the better long-term investment: HECO or HOKU?

My money is literally on HOKU. Just a bit of money. No question, Hoku could swing and miss. Hoku could also knock a series of pitches out of the park come 2009. HECO has limited growth prospects, though it is (finally) trying to venture into alternative energy with a real sense of commitment.

I'll put more cash into my A grade picks any time before HOKU or HECO, but the local angle is compelling for me.

Pupule Paul is slightly long HOKU.