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Montgomery County Green Bank

 
 

 

About Green Banks

Green bank institutions can offer a wide range of financing tools and products to:
  • Promote, enhance, and support private sector financing for clean energy projects. 

  • Accelerate deployment of clean energy by removing barriers within and encouraging expansion of financial markets to these projects. 

  • Expand the value of public dollars by leveraging private capital. 

  • Spur market transformation by increasing investor experience with energy project financing. 

Green banks accomplish these goals by providing programs to assist financing in specific sectors or for certain clean energy technologies. Green bank programs leverage private investment by using public seed dollars to support, enhance, or complement private investment through mechanisms such direct lending, guarantees, credit enhancements, warehousing for securitization, or other structured products.

 

Creation of the Montgomery County Green Bank

In June 2015, the Montgomery County Council passed Bill 18-15 to create a Montgomery County Green Bank. Montgomery County’s Green Bank is the first formal green bank organization to be established at a local government level.

This legislation provided for the establishment of an organization with the sole purpose of increasing investment and implementation of energy improvements across all sectors in the County. Like the state versions its modeled after, the Montgomery County Green Bank will seek to use its seed capital in innovative ways, to spur private capital investment, provide unique programs to target and open up new markets to energy-saving investments, and contribute to a growing regional market of energy financing in the larger DC metropolitan area.

Montgomery County is excited to be at the leading edge of energy policies and provide programs that drive and support demand for energy efficiency and renewable energy projects. The County also currently implements a  Benchmarking and Transparency Law  and  Commercial Property Assessed Clean Energy financing program.

For more information on the Montgomery County Green Bank, contact the Green Bank at info@mcgreenbank.org

 

Image of Maryland's state flag. Photo Credit: Shutterstock / Jiri Flogel Photo credit: Shutterstock / Jiri Flogel

 

 

Additional Resources

Other Green Banks in the U.S.

Green banks and similar organizations have been established in multiple states, such as New York, California, New Jersey, and Rhode Island. Connecticut’s Green Bank is perhaps the most successful and well-known example. These banks have demonstrated their ability to use public dollars to leverage private capital into the energy efficiency and renewable energy industry, and are showing that energy projects are increasingly becoming an attractive investment opportunity.

 

Green Bank Information and Organization

  • Coalition for Green Capital is a non-profit organization that establishes green banks at the state, federal, and international levels in order to minimize greenhouse gas emissions and maximize the deployment of clean electricity and energy efficiency.
  • Green Bank Academy - A unique opportunity for state energy and finance officials from around the country to learn about and discuss the establishment and coordination of state green banks. 
  • Connecticut Green Bank , a quasi-public agency that leverages public and private funds to accelerate the growth of green energy in Connecticut.
  • State Clean Energy Finance Banks: New Investment Facilities for Clean Energy Deployment , a Brookings Institution white paper by Ken Berlin, Reed Hundt, Mark Muro and Devashree Saha – September 12, 2012. 
  • View the Green Banks 101 ( PDF, 541KB).  Provided by Jeffrey Schub, Coalition for Green Capital, and presented at he Green Bank Information Session (held September 16, 2015).

 

 
 
 
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