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April 2022 Newsletter
Second Green Liberty Offering Launched
CGB Green Liberty Notes LLC, a subsidiary of the Connecticut Green Bank, has opened their second Green Liberty offering, a crowdfunding campaign launched in partnership with Raise Green, a social and environmental marketplace for impact investing. This offering builds upon the success of a similar offering in January that allowed citizens to invest in the Green Bank’s mission to confront climate change with as little as $100.
Investments in the Green Liberty offering support Eversource’s Small Business Energy Advantage (SBEA) program, which enables small businesses in Connecticut to reduce their energy costs through efficiency upgrades and zero interest loans.
As a result of the climate benefits associated with the SBEA program, the Green Liberty offering has been reviewed and verified for its environmental attributes by Kestrel Verifiers.
For more information about the investment opportunity, please visit www.greenlibertynotes.com.
Enhancements to C-PACE New Construction
Changes to the guidelines for Connecticut’s Commercial Property Assessed Clean Energy (C-PACE) program will create enhanced opportunities for developers of new construction, repositioning, and gut rehabilitation projects to take advantage of this innovative financing tool. Developers and borrowers can now access up to 35 percent of the total eligible construction costs (TECC) in C-PACE financing based on the building’s designed energy performance.
Green Bank Presents Annual Awards
In recognition of their contributions to the deployment of clean energy and demonstrated leadership in their industries in 2021, the Connecticut Green Bank recently presented their seventh annual awards. These awards recognize key partners in the dedicated network of contractors, developers, lending partners, community leaders and home- and building-owners who have supported the Green Bank in the creation of more than 25,600 job years and over 60,000 clean energy projects since 2012. The 2021 awards recognize 27 contractors who are offering Green Bank’s Home Solutions or Building Solutions programs and are performing at a high level and developing outstanding projects, as well as recognizing other Green Bank partners.
A Variety of Businesses Recently Closed C-PACE Financing
Launched in January 2022 by the Public Utilities Regulatory Authority (PURA), Energy Storage Solutions is a program designed to help Eversource and UI customers install energy storage (batteries) at their home or business. Energy storage backup can help customers across Connecticut – from homeowners and small business owners to industrial manufacturers and critical infrastructure facilities – be more secure in the face of our changing climate. Energy Storage Solutions will help create a more reliable, resilient Connecticut, especially for vulnerable communities and those hit hardest by storm-related outages.
Malibu Fitness, a state-of-the-art California fitness center in Farmington >
Cross Island Provisions Inc., in Essex, a distributor of Boar’s Head products >
Plastonics, a pioneer in the powder coating business, in Hartford >
Through Roof Lease, Building Owners Can Use Solar to Create Revenue
As a building owner, you are always seeking ways to improve your bottom line by cutting costs, adding new revenue streams, and making improvements. Have you considered putting your roof to work for you, similar to leasing space for a billboard or cell tower?
Connecticut’s Clean Energy Industry was more resilient than other states
Connecticut’s clean energy industry has remained resilient and is positioned for future growth, despite the continued impact of the COVID-19 pandemic, according to the recently released 2021 Connecticut Clean Energy Industry Report. This report highlights that Connecticut’s clean energy economy was more resilient than other states in the region and the nation overall. Total clean energy employment in Connecticut declined by only six percent in 2020 to 41,488 jobs; compared to a nationwide energy employment decrease of nine percent and neighboring state declines ranging from seven to 16 percent.
Green Bank’s 2021 Annual Report Released
The Green Bank recently released its 2021 annual report. To read the report, please visit
Residential Solar Investment Program Surpasses Its Goals
Achieving a public policy target is always worth noting. Accomplishing it a year ahead of schedule is a true highlight. In 2021, the Residential Solar Investment Program (RSIP) was able to do both.
Started in 2012, RSIP was designed to provide decreasing incentives to encourage homeowners to go solar. Its statutory target was 350 megawatts by December 2022. By late 2021, with more 43,000 solar projects completed on homes across the state, RSIP has generated more than 350 megawatts of solar deployment and mobilized over $1.33 billion of investment.