Working to build a strong support system for financing energy efficiency and renewable energy requires a collaborative approach with all hands on deck. In the rocky seas of this year’s federal and state climate and energy policy, state and local green banks are emerging as a potentially protective anchor that policymakers can create. Yale Center for Business and the Environment is currently building a training program that will use a set of green banking case studies on innovative clean energy-finance structures that students developed last year. This week, the first case study is being published.
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.