Maryland
Montgomery County Green Bank
GREEN BANK FEATURES
Bank Model
Private/Non-profit
Bank Scope
Local
Year Est.
2017
Political Landscape
Democratic-Divided Government
Initial Funding
State/Local Government & Private Grant
New Instit.
Yes
Implement. Process?
Reporting
More Info
- Started to incorporate equity into their priorities in 2021 by launching the County's first community solar project at Paddington Square with a dedicated 30% of subscriptions available to low- and moderate-income households.
- The Green Bank leverages funding from the County, public, and private funders to provide County residents and businesses with access to more affordable, flexible lending and investment funds for clean energy projects.
- Received grants from Town Creek Foundation in 2017, 2018, and 2019. The JPB Foundation in 2019 and General Motors in 2022 from the General Motors Climate Equity Fund grant in 2022 to help increase access to more sustainable transportation, including EVs and EV infrastructure.
- 2021/2022: The Montgomery County Green Bank received a new annual appropriation of roughly $20 million from the Montgomery County Council.
Focuses on a variety of products such as solar, EV installation and retrofit, from rental homes to commercial buildings. 2022 was also the year of equity, mobilizing resources towards LMI communities to make these resources accessible.
FOCUS
Partners with lenders, contractors, and funders on clean energy projects throughout the County to increase the overall financing available to residents and businesses and makes clean energy financing more affordable and accessible for residents and businesses.
APPROACH
The Montgomery County Green Bank is a publicly chartered 501(c)3 nonprofit corporation dedicated to accelerating energy efficiency, renewable energy, and clean energy investment in Montgomery County, and help Montgomery County achieve its climate goals by leveraging capital and innovative partnerships to make clean energy and climate-resilient solutions more accessible and affordable for all residents and businesses
GOALS
PRODUCTS AND PORTFOLIO
- Clean Energy Advantage (CEA)for Energy Efficiency and Renewable Energy
- Commercial Loan For Energy Efficiency and Renewables (CLEER)
- Commercial Property Assessed Clean Energy (C-PACE)
- Small Business Energy Savings Support (SBESS)
- Commercial Solar Power Purchase Agreement (CSPPA)
- Tailored Loan Offerings Clean Energy Advantage (CEA)
- Community Solar
CONTACT INFORMATION
The state of Maryland has 3 green banks!
