The Connecticut Green Bank has released its Comprehensive Annual Financial Report, detailing progress toward the growth of green energy.
The bank began operations in 2012 and has moved the state’s green energy investment model toward one that favors repayable loans as opposed to grants, which are typically not repaid. Since that time, grant making has been reduced from 100 percent in the 2012’s fiscal year to 38 percent in 2015’s fiscal year.
The report also shows:
- Total investment since fiscal year 2012: $663,199,456
- Leverage ratio private: public funds: 3:1
- Installed capacity: 134.5MW
- Estimated job years created: 14,770
- Estimated lifetime CO2 reductions: 1.4 million tons (life of projects)
The following programs are being replicated and implemented nationwide, according to the Connecticut Green Bank:
- Commercial Property Assessed Clean Energy(C-PACE)
- Solarize Connecticut with Smart Power and Yale University
- CT Solar Loan with Sungage Financial and the Digital Federal Credit Union
“As the nation’s first Green Bank we have not only made substantial progress toward our goals in Connecticut, but we have been able to hold ourselves up as a model for other states interested in expanding their green energy footprint,” Bryan Garcia, president and CEO of the Connecticut Green Bank, said in a statement.
For more information, visit the Green Bank’s website.
