The Maryland Green Bank is a transformative opportunity for our state. The green bank model has proven to be a successful partnership between public and private sectors in other forward-thinking states, and could provide the same economic benefits to Maryland.
The findings of this report show that the public policy goals for renewable generation, energy efficiency implementation and greenhouse gas reduction set by state leaders cannot be met by public sector funding alone. Through various programs and policies, Maryland currently invests over $449 M in public funds, mostly in grants to achieve these goals. This report concludes that, to successfully address market demand, it is imperative to strategically leverage a percentage of that public investment with pragmatic financial solutions that will attract private capital investment.
Implementation of a Maryland Green Bank, the recommended outcome of this study, will enable stable, dependable and reasonable investment over time. The study recognizes MCEC as well positioned to continue serving as the green bank it has become with current financial product offerings in place.
This final Green Bank Study was distributed to the Maryland General Assembly on December 1, 2015. Download the report here.