Green Banks Spring Up in States, Spurred by $27 Billion Fund

The EPA’s new $27 billion clean energy fund is fueling interest in both red and blue states to launch their own green banks to leverage investment in solar, wind, and energy efficiency projects.

Green banks opened in about a half dozen states in the past two years, including California, Colorado, Illinois, Nevada, and Pennsylvania, and other states are getting closer to instituting them. Illinois launched two green banks in 2021, and Maine passed legislation that year establishing its Clean Energy and Sustainability Accelerator to mobilize funding for renewable energy, grid improvements, and electric vehicle charging stations.

“I don’t think it’s ...