Topic: Green Banks

Green Banks Articles

Citi Director Outlines Progress and Hurdles in Financing Clean Energy

What do leaders in the banking industry think about the potential of privately financing solar power, wind energy, and energy efficiency? In this interview, Michael Eckhart, managing director and global head of finance and sustainability at Citigroup, shares his optimism about the transition to clean energy and his observations about the persistent obstacles in the market – including the need to scale up financing for energy efficiency.

Kauffman Reflects on Launching Green Bank and Animating Markets in NY

Last Monday, the Clean Energy Finance Forum spoke with Richard Kauffman, chairman of energy and finance for New York and chairman of the New York State Energy Research and Development Authority (NYSERDA). This conversation offers a close-up look at the process of creating the NY Green Bank (NYGB) and the broader initiative to transform energy policy and markets to achieve economic and environmental benefits.

Three Strategies for Low-Income Solar Programs

The phrase ‘low-income’ rarely appears in solar energy press coverage in the United States. But some enterprising organizations have set their sights on expanding the market for residential solar photovoltaics to include low-to-moderate-income communities. Three approaches – group discount programs, affordable leases, and community solar installations – are making solar power available to these communities in some states.

Green Banks Can Multiply the Impact of Clean Energy Financing

Last Friday, the Clean Energy Finance Forum spoke with Reed Hundt, CEO of the Coalition for Green Capital, which has led the movement to create green banks in the United States during the last several years. Green banks are financial institutions that use public funding to leverage private financing of clean energy. Hundt said it is urgent for states to start green banks to finance clean energy as they move away from coal and toward meeting their renewable energy standards. He said green banks can multiply financing resources by a factor of 10.

Solar and Energy Efficiency Securitization Emerge

Organizations are beginning to securitize solar and energy efficiency loans to allow greater levels of investment. Securitization involves pooling loans to create consolidated securities that investors can purchase. Recently, SolarCity securitized $54.4 million in loans for solar photovoltaic installations. Also, the Green Jobs – Green New York program has achieved a high bond rating for securitized energy efficiency loans.