Momentum is growing behind the innovative clean energy finance concept of Green Banks. Green Banks provide low-cost financing for clean energy projects in partnership with private investors. They reduce the cost of capital to lower the price of clean energy and leverage public dollars with greater private investment. Connecticut and New York have Green Banks, Hawaii and Vermont have similar entities, and ten more states are considering Green Banks. To build on this movement, Congressman Chris Van Hollen (D-MD) introduced the Green Bank Act of 2014 to create a Federal Green Bank. In addition to financing clean energy projects, the Federal Green Bank would offer matching funds to capitalize state Green Banks. Bill Parsons, the Chief of Staff for Rep. Van Hollen explains the history and details of the legislation. And Reed Hundt, CEO of the Coalition for Green Capital, discusses the growing interest in Green Banks around the country.
The Coalition for Green Capitalis a 501(c)(3) nonprofit organization that works to establish green banks on the state, federal, and international levels by conducting in-depth analyses, leading educational campaigns, and providing specialized consulting services. The mission of a green bank is to combine scarce public resources with private sector funds to invest in attractive clean energy and energy efficiency projects. In the past year, CGC has worked in a growing number of states to establish green banks, including Connecticut, New York, Washington, Hawaii, Maryland, Minnesota and others. With the recent introduction of federal legislation, we hope to see the movement at the state level grow in momentum and success.
The Yale Center for Business and the Environment (CBEY) is pleased to present Blueprint for Efficiency, our fourth annual webinar series on energy efficiency, which will continue to emphasize the latest opportunities for energy efficiency. Through presentations from leaders in the corporate, nonprofit, and public-private arenas, we will explore energy efficiency through the lenses of behavior, policy, finance, and technology. Webinars are free and open to the public. Each presentation is recorded and available through Yale University's iTunesU channel.