The Nicholas Institute for Environmental Policy and the Coalition for Green Capital hope to organize a nonprofit in the next several weeks to form the basis of a green bank to be called the North Carolina Clean Energy Fund.
The proposed fund would aim for $100 million to $150 million in capitalization to underwrite or help establish small clean energy and energy efficiency programs that ordinarily fail to attract support of traditional financial organizations.
“It is estimated that, with $100 million in seed capital, a Green Bank in North Carolina could create 15,000 jobs within its first five years with no other state or federal policy changes,” Weiss writes with Hanna Betnecke and Jill Bunting. “Not only that but as initial investments are repaid and then reinvested by the Green Bank, job creation would continue at approximately the same rate.”
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