6 December 2017
What is a leading opportunity for states to create energy security, job growth and economic development with their public dollars?
The answer? A public financing institution that can engage effectively with private sector players to meet them on their own terms – addressing real barriers and providing the right types of capital needed to make clean energy projects investable.
Take Connecticut for example. In 2011, the state established the nation’s first state green bank, the Connecticut Green Bank (CGB). Over the last six years, CGB has used $174.6 million of ratepayer funds to attract $914.8 million of private investment in clean energy for a total investment of $1.1 billion. These investments have supported the deployment of 234.4 MW of renewable energy [PDF], created thousands of jobs, and reduced an estimated 3.7 million tons of CO2 emissions over the life of the projects.