Now is the time for Green Banks

Cost-effective, efficient, and knowledgeable third-party loan servicing is a major force driving loan compliance, leading-edge security, robust administration and reporting, investor/rating agency confidence, and best-case portfolio performance

Green Banks at both the state and national levels will be instrumental in securing and leveraging large-scale funding of energy-efficient programs nationwide. With Green Banks will come many new jobs, opportunities for consumer-friendly financing and lower utility bills at all economic levels, and a rapid increase in renewable energy use.

It all started with establishment of the Connecticut Green Bank in July 2011. According to its website, the first Green Bank in the nation supports the Governor and Legislature’s energy strategy for cleaner, less expensive, and more reliable energy sources while creating jobs and supporting local economic development.

Key to success is development of new and innovative financing programs attracting more private capital to grow public/private programs around energy-related initiatives.

42 states now operating or developing Green Banks
Reversing a long-time axiom that “climate policy advocacy equated to making things more expensive, Green Banks make it cheaper. Now, it’s investment, investment, investment. The Green Bank philosophy fits into the general narrative.

Smart-E loans leading the way
Adding fuel to the energy efficiency fire are Smart-E loans. Connecticut offers these unsecured, low-interest personal loans with flexible terms to upgrade home energy performance. Almost any home improvement project that reduces energy use and lowers costs may qualify.

###