The Climate Catalytic Capital (C3) Fund
The Climate Catalytic Capital (C3) Fund was established with the passage of the Climate Solutions Now Act (CSNA) of 2022 to increase implementation of clean energy measures and technologies intended to reduce greenhouse gas emissions and mitigate the effects of climate change. An allocation of $15M over three fiscal years was committed to the C3 Fund beginning in FY24, with a minimum of 40% of the Fund’s investments assisting low-income households and communities throughout the Maryland (“State”). In addition, the recently concluded budget session approved a further $23.75M for the C3 Fund, which will become available in future cycles.
Intake Process: What’s Changed
MCEC has updated how applicants engage with the C3 Fund for the current round. Applications in this cohort will be accepted through discrete investment windows, each purpose-built around a specific financial product designed for targeted clean energy technologies and project types. This approach allows MCEC to tailor financing terms, eligibility criteria, and underwriting standards to the distinct needs of each investment opportunity, ensuring that public funds are deployed efficiently and with maximum impact.
Windows open and close on a rolling basis as capital is available and program priorities evolve. This approach applies to the current round only. Future rounds may use different intake methods, and MCEC may also deploy C3 Fund capital through other pathways, as explained in the C3 Fund Investment Guidelines.
C3 Fund Applications Are Now Open
The C3 Fund is currently offering three investment windows:
- Investment Window 1: Short-term bridge loans for geothermal, solar and resiliency hub projects
- Investment Window 2: Line of credit for solar developers and installers
- Investment Window 3: Project feasibility grants for underserved market actors
Choose your application period based on when you need your project approved, then select the investment window that fits your needs.
Application Periods
All investment windows will open for application on May 13, 2026. The period you choose depends on when you need a decision.
- If you need a decision by June 25, 2026, apply between May 13 and May 29, 2026.
- If you need a decision by August 20, 2026, apply between May 13 and June 30, 2026.
Both application periods accept submissions for all three investment windows. You only need to apply once, in the period that matches your timeline.
Submission or approval of a financing application does not constitute a commitment or guarantee of financing or funding. All financing or funding remains subject to approval of the oversight body, completion and execution of satisfactory legal documentation and fulfillment of all closing conditions.
Below are the three investment windows offered through the C3 Fund. Click any to learn more and apply, or check out our informational webinar, presentation, and C3 FAQ page.
C3 Fund Investment Oversight Committee
An Investment Oversight Committee (IOC), appointed by the Maryland Clean Energy Center Board of Directors, will manage the fund. The IOC will determine fund use and distribution using approved Guidelines and may engage contracts for service as needed. Meetings of the IOC are currently scheduled bi-monthly and are held in accordance with Maryland Open Meetings Act regulations.