Sending Office: Honorable James A. Himes
As the need to invest in and fund a clean energy future becomes more urgent, I invite you to cosponsor the National Green Bank Act.
The National Green Bank Act would be capitalized by an initial sale of $10 billion in Green Bonds, with options for direct congressional appropriations or further bond sales. In turn, the National Green Bank would capitalize eligible green banks set up by
states, counties, and municipalities. These local green banks would be able to make financing in the form of direct support or credit enhancement for eligible energy efficiency, solar, wind, geothermal, biomass, hydropower, fuel cell, and alternative fuel
vehicles and infrastructure projects, among others.
Currently, five states have established state-level green banks: Connecticut, New York, California, Hawaii, and Rhode Island. The banks provide financing to a variety of green energy projects, helping leverage billions in private dollars. Connecticut’s Green
Bank has help create the equivalent of almost 16,000 direct, indirect, and induced jobs and reduced CO2 emissions by 4.6 million tons since its creation in 2011. New York’s Green Bank has stimulated almost $1.7 billion in total clean energy investment
in the state, generating $38.9 million in cumulative revenues since inception. Given how successful these existing banks have been, more should be done on the federal level to encourage states to create them.
The National Green Bank Act is an important step to ensure that the important investments into the research and development that will help transition us to a clean energy economy are being made today. If you would like to cosponsor the bill, or if you have
any questions, please contact Mark Snyder in my office at
Mark.Snyder@mail.house.gov or at x5-5541.
Member of Congress
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