Bill signed by Governor Polis
WASHINGTON, DC—Governor Polis on Monday signed SB21-230, a bill that will transfer $30 million to the Colorado Clean Energy Fund, providing capital to the state green bank that will be used to deploy critical clean energy and energy-efficient projects to Colorado households.
“With the funding to get started deploying clean energy infrastructure across the state, the Colorado Clean Energy Fund will deliver incredible value for households and small businesses,” said Paul Scharfenberger, Executive Director of the Colorado Clean Energy Fund. “We are thankful for this opportunity to help Colorado lead the clean energy transition.”
“These critical funds will not only provide an outsized impact for Colorado taxpayers, they will ensure that every household has access to clean energy and energy-efficient products,” said Jeffrey Schub, Executive Director of the Coalition for Green Capital. “As the movement to establish a federal Clean Energy Accelerator grows, we can expect even more green bank investment into the state and its communities.”
The news comes just weeks after President Biden included the Clean Energy Accelerator, a national green bank that would inject funding into state green banks, as a key climate provision in the American Jobs Plan. U.S. Representatives Debbie Dingell (D-Mich.), Brian Fitzpatrick (R-Pa.), Paul Tonko (D-N.Y.) and Don Young (R-Alaska) are leading the charge in the House to establish the Accelerator with $100 billion, taking “a proven model” from states and broadening it to the federal level.
Green banks currently exist in more than 14 cities and states across the country and have supported over $5 billion in investment in clean energy projects in their states and local communities, and much of this investment has been targeted toward low- and moderate-income households and communities. View a list of projects that have been supported by already existing state and local green banks.
ABOUT COALITION FOR GREEN CAPITAL
The Coalition for Green Capital (@CGreenCapital) is a non-profit with a mission to halt climate change by accelerating investment in clean energy technologies and by advocating for, creating and implementing green bank institutions. Green banks are a proven finance model that uses public and philanthropic funds to mobilize private investment in renewable energy, energy efficiency and other decarbonization technologies. For over a decade, the Coalition for Green Capital has led the Green Bank movement, working at the federal, state and local level in the U.S. and in countries around the world.