This report provides an analysis of clean energy finance opportunities that will accelerate the transition to a clean energy economy in North Carolina. Green Banks have been proven as an effective engine for job creation by leveraging public resources to catalyze private investment, which is particularly relevant in this time of high unemployment. These institutions have helped states make progress on renewable portfolio standards and other greenhouse gas emission goals. Green bank financing can also assist municipal, industrial, commercial, and agricultural facilities transition to cleaner energy resources and lower operational costs. A North Carolina Green Bank (or Clean Energy Fund) was one of the top recommendations coming out of three parallel stakeholder processes in 2019: the NC Clean Energy Plan, the NC Energy Efficiency Roadmap, and the Department of Transportation’s Zero Emission Vehicle (ZEV) Plan.
Nicholas Institute for Environmental Policy Solutions