Energy Investment Partnerships: How State and Local Governments Are Engaging Private Capital to Drive Clean Energy Investments
Energy Investment Partnerships—sometimes referred to as Green Banks--are newly emerging public-private partnerships with the authority to raise capital through a variety of means and can align clean energy finance initiatives and traditional development finance tools to maximize the impact of public funds in accelerating clean energy deployment and economic development. On December 7, 2015, the Department of Energy released a report that highlights EIP activities in eight states: California, Connecticut, Florida, Hawaii, New Jersey, New York, Ohio, and Oregon. The report, “Energy Investment Partnerships: How State and Local Governments Are Engaging Private Capital to Drive Clean Energy Investments", illustrates how states and entities are driving clean energy deployment through leveraging private capital.
Innovative financing mechanisms like EIPs are critical for mobilizing the public and private capital necessary to transition to a low carbon economy. States, cities, and even countries like Malaysia are beginning to deploy EIPs to help meet carbon emissions reductions goals and to fund more resilient infrastructure. The first ever Global Green Banks Network was announced at the Paris climate talks in December, with the goal of accelerating investment in clean energy solutions worldwide. Two of the founding members of the network, the Connecticut Green Bank and the New York Green Bank, are profiled in the new DOE report.
Building on the momentum of a June 2015 White House roundtable on Green and Clean Energy Banks, the release of DOE’s EIPs report, and the announcement of the Global Green Banks Network, DOE will launch a four-part educational webinar series and develop resources beginning 2016 to further assist entities as they work to increase and accelerate investment in renewable energy and energy efficiency. The webinar series will include the following topics:
- Energy Investment Partnership: What is it and How to Get Started
- Energy Investment Partnerships: Market Assessment & Product Offerings
- Access to Capital & Leveraging Existing Financing Tools
- Measuring Impact & Data Collection
Check back for scheduling and registration information.
Report: Energy Investment Partnerships: How State and Local Governments Are Engaging Private Capital to Drive Clean Energy Investments
Press Release: First Global Green Bank Network Will Speed Shift to Clean Energy
EIP Educational Webinars
EIP Fact Sheets