Tue, 17 Jan 2012 08:15:36 -0800WeeblyTue, 16 Aug 2011 06:08:57 -0800http://www.coalitionforgreencapital.com/1/post/2011/08/turning-heads.html The nation’s first Green Bank, the Clean Energy Finance and Investment Authority (CEFIA), will enable Connecticut to transition to a clean energy economy by delivering long-term low-interest loans for clean energy and energy efficiency projects. Moreover, the legislation that created CEFIA received overwhelming bi-partisan support, passing the Connecticut Senate 36-0 and the Connecticut House 139-8. The Coalition for Green Capital provided on-the-ground policy support for six months leading up to the bill’s passage.

The success in Connecticut has drawn praise from a variety of clean energy stakeholders. In a recent post for the National Journal, Dan Esty, Commissioner of the new Connecticut Department of Energy and Environmental Protection, shared accolades from business leaders excited about the prospect of investing in Connecticut. As a consequence, Commissioner Esty predicts, “our energy program will have the added benefit of creating jobs for Connecticut residents, especially for those in the construction trades and other fields that have been hard hit by the economic downturn.”

CEFIA has established Connecticut as one of the national leaders in clean energy. Other states are taking note. For instance, the National Governors Association recently named Connecticut Governor Daniel P. Malloy chairman of its Natural Resources Committee. This honor reflects the potential for the green bank model adopted in Connecticut to expand to other states. The CGC has begun working with several interested states and continues to craft innovative solutions for clean energy finance to meet each state’s objectives.

]]>Mon, 25 Jul 2011 13:22:41 -0800http://www.coalitionforgreencapital.com/1/post/2011/07/making-the-case-for-green-banks.html Ken Berlin, general counsel for the Coalition for Green Capital (CGC), shared his insights on clean energy finance in a recent interview with Sustainable Industries Magazine.  In the interview, Mr. Berlin makes the case for green banks on the state and national levels that will act as, “funding institutions, designed to safely leverage public dollars into massive public-private investments in clean energy and energy efficiency projects . . . The projects would create jobs and lower electricity prices, without additional costs to taxpayers.”

After providing on-the-ground policy support for the creation of the nation’s first green bank in Connecticut last month, the CGC has begun working with stakeholders in other states interested in enabling low cost financing for clean energy and energy efficiency projects. Replicating Connecticut’s success in other states will build a strong case for a national green bank that will create jobs and build an independent clean energy economy.

]]>Thu, 21 Jul 2011 12:07:56 -0800http://www.coalitionforgreencapital.com/1/post/2011/07/creative-thinking-on-infrastructure-and-clean-energy.htmlIntransigence in Congress stymies necessary action to address economic uncertainty. While the unemployment rate sits at 9.2 percent, politicians refuse to move forward on job-creating legislation to help finance clean energy development and deployment.A study released by the Brookings Institution last week, however, shows that there are currently more jobs in the clean energy economy (2.7 million) than the fossil fuel industry (2.4 million). 

The clean energy economy needs low cost finance to continue growing. American infrastructure needs a complete overhaul to maintain public health and a vibrant economy. 

A national infrastructure bank offers a solution to these problems. As a recent article in Forbes explains, an infrastructure bank as proposed by Coalition for Green Capital CEO Reed Hundt and Thomas Mann of the Brookings Institution last month in The Washington Post, could be funded with repatriated foreign earnings from U.S. corporations brought back at a reduced tax rate set at an auction. The Forbes article describes how, “Under this plan, the economy would surge from the real stimulus of added investment and jobs. More people employed also means less government spending and more government tax revenue.” 

Not only would an infrastructure bank create jobs without significant government spending, but its investments in clean energy and energy efficiency would also smooth the transition to a strong domestic clean energy economy.  An infrastructure bank offers a winning idea for the economy and for clean energy that should push through the current political stalemate.
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