The Connecticut Green Bank was established by the Connecticut General Assembly in 2011 as the nation’s first green bank and has since supported the creation of more than 26,000 green energy jobs in the state while reducing the energy cost burden on over 66,000 families, businesses, and nonprofits. The Green Bank’s vision is a planet protected by the love of humanity and its mission is to confront climate change by increasing and accelerating investment into Connecticut’s green economy to create more resilient, healthier, and equitable communities.
The Green Bank’s statutory purposes are:
- To develop programs to finance and otherwise support clean energy and environmental infrastructure investment in residential, municipal, small business and larger commercial projects and such other programs as the Green Bank may determine;
- To support financing or other expenditures that promote investment in clean energy sources and environmental infrastructure to foster the growth, development and commercialization of clean energy sources, environmental infrastructure, and related enterprises;
- To stimulate demand for clean energy and the deployment of clean energy sources and investment in environmental infrastructure within the state that serves end-use customers in the state.
In 2021 Connecticut Green Bank concluded The Residential Solar Investment Program that launched in 2012, which enabled over $1.4 billion of investment to reduce the energy burden on over 45,000 participating households deploying more than 350 MW of solar PV, while creating more than 16,000 jobs in our communities. Connecticut’s residential solar PV market has the highest watt per capita deployment in the entire northeastern region (i.e., New England, New Jersey, and New York) and is among the few national “solar with justice” states whereby LMI families and communities of color (i.e., Black and Hispanic) are demanding solar PV more than non-LMI families and White households.
In 2022, Connecticut Green Bank launched a first-of-its-kind quarterly issuance of Green Liberty Notes, providing everyday citizens across the country an opportunity to buy a note at $100 or more, whose proceeds go towards supporting small businesses to become more energy efficient through an on-bill repayment program called Small Business Energy Advantage – a collaboration of Eversource Energy, Amalgamated Bank, and the Green Bank.