Green Banks Transforming Clean Energy Financing in Maine - PowerPoint PPT Presentation

Oct 29, 2023 •249 likes •348 views

Green Banks Transforming Clean Energy Financing in Maine Significant capital is needed to achieve Maines climate and clean energy goals 80% emissions reduction by 2050 and renewable electricity by 2030 30% reduction in electricity and

Green Banks Transforming Clean Energy Financing in Maine
Significant capital is needed to achieve Maine’s climate and clean energy goals • 80% emissions reduction by 2050 and renewable electricity by 2030 • 30% reduction in electricity and natural gas use by 2020 and heating oil use by 2030 • $40-50 billion investment needed to achieve these targets by 2050 • $4.4 billion spent on imported fossil fuels in 2018 out of $6.2 billion total energy bill
Potential Green Bank Scope • Target populations & sectors with limited access to capital • Energy efficiency and renewable energy • Heat pumps • Electric vehicles/charging infrastructure • Energy storage • Combined heat and power • Climate resilient infrastructure
Financial products and services • Credit enhancements • Warehousing & securitization • Direct lending • Structured products & other financing tools • Technical expertise
Ensuring a Maine Green Bank is equitable • Efficiency Maine and CEI programs • Baltimore Climate Access Fund • Portland OR Clean Energy Community Benefits Fund • CT Green Bank solar PV lease + efficiency package
Potential Funding Sources Existing Sources New Sources • CO 2 revenues from RGGI • Bonding • System benefit charges • Federal green bank/stimulus • Federal funds • On-bill financing • Settlements • PACE financing • RPS compliance payments • Institutional investors • ISO-NE forward capacity market • Public employee payroll deductions • Fee on CO 2 emissions from oil & gas
Potential Hosts and Partners
Potential Impact of a Maine Green Bank • $50 million capitalization • $1 billion cumulative investment over 15 yrs • 400 MW of solar • $118 million in annual energy bill savings • 740,000 tons of CO 2 reduced
THANK YOU! For more information, please contact: Steve Clemmer Director of Energy Research & Analysis sclemmer@ucsusa.org 9

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