Sending Office: Honorable Elizabeth H. Esty
Sent By:
Jessica.Brown@mail.house.gov

Promote a clean-energy economy:

Cosponsor H.R. 2995, the United States Green Bank Act of 2017

 

Dear Colleague,

We invite you to cosponsor the United States Green Bank Act of 2017, a bill to create a National Green Bank to provide financing support for clean energy and energy efficiency projects across the United States. The concept of creating a National Green Bank
is not new to Congress. A version of the Green Bank – the Clean Energy Deployment Administration (CEDA) – passed the House in the American Clean Energy and Security Act (Waxman-Markey) in 2009.

Since that time, several states have taken the reins on the Green Bank movement. Five states—Connecticut, New York, California, Hawaii, and Rhode Island – have established state green banks, and more recently the Montgomery County Green Bank became the first
county-level Green Bank. More than half a dozen additional states are well on their way to implementing their own clean energy financing programs.

The United States Green Bank Act of 2017 would create a National Green Bank that provides financing support to regional, State, and Municipal Green Banks to fund clean energy and energy efficient projects such as solar, wind, geothermal, biomass, hydropower,
ocean and hydrokinetic, fuel cell, advanced battery, and more. Financing support would come in the form of loans, loan guarantees, debt securitization, insurance, and other forms of risk management. Ultimately, these financing tools would generate returns
that allow banks to become self-sustaining in the long term.

Why do we need a national Green Bank?

The single greatest barrier for Green Bank growth is a lack of access to capital. Clean energy and energy efficiency technologies are still fairly new to the market, and a lack of large-scale financing models for these technologies creates uncertainty for
lenders. That’s where a National Green Bank comes into play.

To learn more about the United States Green Bank Act of 2017, or to become a cosponsor of this legislation, please e-mail Jessica Brown in my office (Jessica.Brown@mail.house.gov) or at 6-6736.

Sincerely,

 

__________________                                                            __________________

Elizabeth H. Esty                                                                     Paul Tonko

Member of Congress                                                               Member of Congress

 

__________________

Earl Blumenauer

Member of Congress

Related Legislative Issues
Selected legislative information: Economy, Energy, Environment
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