Yesterday, the nation’s first local Green Bank, the Montgomery County Green Bank, was designated as the County’s official Green Bank by the Montgomery County (MD) Council. The Montgomery County Green Bank will allow residents and businesses in Montgomery County to access low-cost financing for clean energy and energy efficiency projects.
In response to the official designation of the Montgomery County Green Bank as the County’s Green Bank, Coalition for Green Capital CEO Reed Hundt said, “We are grateful for the leadership of Councilmember Roger Berliner, Council President Nancy Floreen, and County Executive Ike Leggett as Montgomery County creates the nation’s first local Green Bank, the Montgomery County Green Bank. The Montgomery County Green Bank will offer an example for cities and counties across the United States as a way to invigorate local economies with investments in clean energy and energy efficiency technologies.”
Michelle Vigen, Senior Energy Planner at the Montgomery County Department of Environmental Protection, said, “We are pleased to be working with the Coalition for Green Capital to build out the Montgomery County Green Bank as a model for driving investment in local economies. Montgomery County has taken a leadership position in building out a clean energy economy in Maryland, and the nation’s first local Green Bank is a major element of our strategy of achieving our aggressive clean energy goals.”
Last summer, Councilmember Roger Berliner led the charge to pass legislation authorizing the Montgomery County Green Bank. Since the passage of Bill 18-15, the Coalition for Green Capital has worked hand-in-hand with Montgomery County staff to run a working group process to identify opportunities for the Montgomery County Green Bank, perform extensive market research and stakeholder interviews, incorporate the organization within the State of Maryland, and select a Board of Directors for the organization.
The Coalition for Green Capital will continue to work with Montgomery County as it builds the organization and begins to increase investment in the county’s clean energy and energy efficiency industries. The Coalition for Green Capital is a national nonprofit with a mission of accelerating the transition to the clean energy economy by establishing Green Banks at the local, state, federal, and international level.