Maryland
The Maryland Clean Energy Center
GREEN BANK FEATURES
Bank Model
Quasi-Public
Bank Scope
Statewide
Year Est.
The Maryland Clean Energy Center was established in 2008, but deemed a climate bank in 2022
Political Landscape
Democratic-Divided Government
Initial Funding
State/Local Grant
Implement. Process?
Established in 2008 through legislation (Chapter 137, Acts of 2008) and designated the state’s official green bank in the Climate Solutions Now Act of 2022 it received initial funding from the government.
New Instit.
Repurposed
Reporting
- The Maryland Clean Energy Center, which was created by legislation in 2008 and has been providing funding, technical assistance and marketing advice to clean energy entrepreneurs and government agencies, was designated the state’s official green bank in the Climate Solutions Now Act of 2022. The Maryland Clean Energy Center Administers the Climate Catalytic Capital Fund.
- MCEC is managed by a Board of Directors who are appointed by the Governor. MCEC also maintains an Advisory Council, composed of both public and private stakeholders acting in the energy sector, who help guide the work plan of the organization.
More Info
FOCUS
Provides access to affordable financing options for a variety of energy-efficient and renewable energy upgrades to both public and private property owners.
Partners with governments, institutions, nonprofit organizations, green banks and business entities to achieve favorable economics in energy project transactions and clean energy deployment to residents in Maryland.
APPROACH
MCEC serves as a statewide green bank with a mission to transform the energy economy in Maryland by increasing clean energy jobs, driving commercialization of technological innovations, and enabling consumer adoption of clean energy products and services. MCEC facilitates access to capital through leveraged or direct investment and operates financing programs targeted to serve various consumer audiences and underserved communities. The Center provides specialized procurement and technical support in order to facilitate and expedite project implementation
GOALS
Maryland Clean Energy Capital Program for Government, Institutions, and Nonprofit Entities, can provide projects with access to lower cost capital and an advantageous finance structure. Sample project scopes include: Energy Efficiency Measures, Energy Resiliency Measures, Mechanical Equipment Upgrades, Combined Heat and Power (CHP), Renewable Energy Production, (Solar, Wind, Biomass), Microgrids / Islanded Generation, Co-Generation. Maryland Commercial PACE for turn-key, low cost, standardized C-PACE program services for Property Owners, Capital Providers, Contractors, and Local Governments. Property Owners, Capital Providers, Contractors, and Local Governments NEW - Clean Energy Advantage Loan Program for Maryland Residential Energy Efficiency and Clean Energy Projects, offers convenient & affordable financing for qualified home energy improvement projects in Maryland and Washington, D.C.
PRODUCTS AND PORTFOLIO
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CONTACT INFORMATION
The state of Maryland has 3 green banks!
