June 26, 2024, Montpelier, VT – The Clean Energy States Alliance (CESA), a national nonprofit coalition of public agencies working together to advance clean energy, is pleased to announce the recipients of the 2024 State Leadership in Clean Energy Awards. Since 2009, the biennial Leadership Awards have recognized outstanding state programs and projects that have accelerated the adoption of clean energy technologies. The four winners were chosen by an independent panel of distinguished judges and were evaluated based on leadership, innovation, cost-effectiveness, and replicability.
“The Clean Energy States Alliance was founded on the principle that states are the driving force behind this country’s clean energy transformation,” said CESA Executive Director Warren Leon. “CESA’s State Leadership in Clean Energy Awards recognize state innovation and accomplishments and share best practices so that creative programs in one state can spread to others.”
This year’s awards were presented in Chicago, IL on June 3 to the Connecticut Green Bank for its Green Liberty Notes Program. This program was developed following the Green Bank’s highly successful Green Liberty Bonds The Notes program provides small-dollar investors with the opportunity to support and benefit from clean energy development. It is the first one-year maturity designated green bond offered via a crowdfunding campaign, with an easy online process that doesn’t involve a broker. Investments start at $100 and are capped at $25,000, with priority given to smaller investments.
David Beech, center, accepts the SLICE Award from the CESA team.
This innovation makes it possible for everyone, regardless of income, to invest in Connecticut’s clean energy transition. Like other savings instruments, such as certificates of deposit, a competitive market rate of interest is paid at maturity (the previous offering was between 5-5½ percent). To date, more than $2 million in investment has been raised through the notes to support energy efficiency retrofits for small businesses. According to the judges: “The Connecticut Green Bank’s Green Liberty Notes Program is innovative and opens the rewards of the clean energy economy to a new community, extending the benefits so everyone can participate. The threshold to entry is low and the return on investment is good. Other states could adopt this highly replicable and cost-effective program.”
The other three winners were the California Energy Commission (CEC), the Maryland Energy Administration (MEA), and Massachusetts Clean Energy Center (MassCEC).
The five judges who donated their time to assess the programs nominated by state agencies across the country were Michael Brower, Clean Energy Venture Group; Greg Dierkers, U.S. Department of Energy; Deb Perry, International City/County Management Association (ICMA); Autumn Proudlove, North Carolina Clean Energy Technology Center; and Joan White, Solar Energy Industries Association. While CESA appreciates the time and expertise provided by the judges to this process, the judges’ participation in no way implies their respective organizations’ endorsements of these programs.
In July, CESA will release a report on the State Leadership in Clean Energy Award (SLICE) winners that will highlight each of these programs with a case study. The report will be posted on CESA’s website at https://www.cesa.org/projects/state-leadership-in-clean-energy/2024-awards. This webpage will also contain information and registration links for a webinar series featuring the program managers of these exemplary programs. The webinars, which will take place in the summer and fall of 2024, will be free to attend and open to the public.
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About the Clean Energy States Alliance (CESA)
The Clean Energy States Alliance (CESA) is a leading US coalition of state energy agencies working together to advance the rapid expansion of clean energy technologies and bring the benefits of clean energy to all. Established in 2002, CESA is a national, member-supported nonprofit that works to develop and implement effective clean energy policies and programs. CESA’s members include many of the nation’s most innovative, successful, and influential implementers of clean energy policies. CESA facilitates the expansion of state clean energy policies by championing renewable energy, pioneering energy storage solutions, promoting energy equity, and enhancing resilience. For more than two decades, CESA has played a pivotal role in transitioning the US towards accessible, sustainable, clean energy solutions. Learn more at www.cesa.org.
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Connecticut Green Bank Seeks New Lending Partners to Continue Growth of Successful Smart-E Loan Program
/in Home Solutions, Investment Solutions, NewsLaunched in 2013, Smart-E helps residents improve the energy efficiency, resilience, and safety of their homes through a network of participating lenders and vetted contractors
Hartford, CT (July 22, 2024) – The Connecticut Green Bank today announced that it is seeking lenders interested in joining their Smart-E loan program through an open Request for Qualifications. Since 2013, the Smart-E loan has helped nearly 9,000 homeowners complete projects worth more than $170 million that have generated renewable energy, improved the efficiency and comfort of their homes, or removed health and safety hazards. The program is currently expanding to reach more homeowners across Connecticut, especially low-and-moderate income homeowners and communities of color, while increasing the program’s offerings into resilience and potential opportunities created by the Greenhouse Gas Reduction Fund (GGRF).
The Smart-E loan is offered through participating lending partners and a vetted network of local contractors who install the projects. For lenders, the Smart-E loan provides a no-cost way to engage with new and existing customers through a product that has proven to have few delinquencies and charge-offs. The Green Bank supports the program with marketing and technical assistance as well as a loan loss reserve.
“As the program continues to grow and evolve, serving diverse homeowners and contractors across the state, we are excited to add new credit unions, local and regional banks, and other lenders to our existing core group of partners,” said Bert Hunter, Executive Vice President and Chief Investment Officer of the Green Bank.
A virtual information session for lenders will be held on Wednesday, August 7 at 1 pm. Register here.
The RFQ can be found here.
Connecticut Green Bank Launches Award-Winning 11th Green Liberty Notes Offering
/in Investment Solutions, NewsWith investments starting at $100, the 11th offering makes energy efficiency upgrades more accessible for small businesses and organizations
Hartford, CT (July 9, 2024)—CGB Green Liberty Notes LLC, a subsidiary of the Connecticut Green Bank, announced the launch of its award-winning 11th offering today. The crowdfunding campaign, now in its third year, is made possible by Raise Green, an online marketplace for impact investing.
“We’re grateful for the opportunity to continue making much-needed energy efficiency upgrades more accessible to small businesses and organizations across Connecticut,” said Bryan Garcia, President and CEO of the Connecticut Green Bank. “Our 11th Green Liberty Notes offering will help bolster Connecticut’s clean energy transition and support the state’s local economy. By investing, you’re not just making a financial choice; you’re helping to build a more resilient future for our communities.”
Investments in the Green Liberty offering support Eversource’s SBEA program, which enables small businesses in Connecticut to lower their energy expenses through efficiency enhancements and interest-free loans. Due to the climate benefits associated with the SBEA program, Kestrel has reviewed and verified this Green Liberty offering for its environmental attributes. The Green Bank’s partnership with Amalgamated Bank has deployed over $100 million of private capital into the SBEA program.
Notes may be purchased through the Raise Green online platform without a broker, starting with a $100 minimum. The previous Green Liberty offering was the eighth consecutive offer to surpass its maximum limit for a raised amount, so interested investors are encouraged to act quickly.
Featuring a low minimum investment, a short one-year term, and an easy online purchase process, Green Liberty offerings were created to be accessible to nearly anyone who wants to invest. In total, more than $2.7 million has been raised from Connecticut citizens and buyers from 35 states nationwide. Over 60% of original investments have been $1,000 or less, with more than half of the investors being Connecticut residents.
Investors from the seventh round of Green Liberty Notes (now reaching the end of its term) can reinvest their principal and interest in this latest offering. Anyone who invested in the seventh round and invests in this offering, either by reinvesting their principal and interest or by investing a different amount, will receive an interest rate “boost” as a thank-you for their early support of the Green Liberty Notes.
The Connecticut Green Bank was recognized by the Clean Energy States Alliance with the 2024 State Leadership in Clean Energy (SLICE) Award for its leadership, innovation, and effectiveness in advancing clean energy technologies through the Green Liberty Notes.
“We are deeply honored to receive CESA’s prestigious State Leadership in Clean Energy award for our Green Liberty Notes Program,” said David Beech, Senior Manager of Clean Energy Finance, who accepted the Award on behalf of the Green Bank at CESA’s annual meeting. “This award is a testament to the hard work and dedication of our team and partners who are committed to advancing clean energy solutions and making them more accessible.”
For more information about this investment opportunity, please visit invest.ctgreenbank.com.
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/in Building Solutions, C-PACE, Customer StoriesConnecticut Green Bank wins 2024 State Leadership in Clean Energy Award from Clean Energy States Alliance (CESA)
/in News“The Clean Energy States Alliance was founded on the principle that states are the driving force behind this country’s clean energy transformation,” said CESA Executive Director Warren Leon. “CESA’s State Leadership in Clean Energy Awards recognize state innovation and accomplishments and share best practices so that creative programs in one state can spread to others.”
This year’s awards were presented in Chicago, IL on June 3 to the Connecticut Green Bank for its Green Liberty Notes Program. This program was developed following the Green Bank’s highly successful Green Liberty Bonds The Notes program provides small-dollar investors with the opportunity to support and benefit from clean energy development. It is the first one-year maturity designated green bond offered via a crowdfunding campaign, with an easy online process that doesn’t involve a broker. Investments start at $100 and are capped at $25,000, with priority given to smaller investments.
David Beech, center, accepts the SLICE Award from the CESA team.
This innovation makes it possible for everyone, regardless of income, to invest in Connecticut’s clean energy transition. Like other savings instruments, such as certificates of deposit, a competitive market rate of interest is paid at maturity (the previous offering was between 5-5½ percent). To date, more than $2 million in investment has been raised through the notes to support energy efficiency retrofits for small businesses. According to the judges: “The Connecticut Green Bank’s Green Liberty Notes Program is innovative and opens the rewards of the clean energy economy to a new community, extending the benefits so everyone can participate. The threshold to entry is low and the return on investment is good. Other states could adopt this highly replicable and cost-effective program.”
The other three winners were the California Energy Commission (CEC), the Maryland Energy Administration (MEA), and Massachusetts Clean Energy Center (MassCEC).
The five judges who donated their time to assess the programs nominated by state agencies across the country were Michael Brower, Clean Energy Venture Group; Greg Dierkers, U.S. Department of Energy; Deb Perry, International City/County Management Association (ICMA); Autumn Proudlove, North Carolina Clean Energy Technology Center; and Joan White, Solar Energy Industries Association. While CESA appreciates the time and expertise provided by the judges to this process, the judges’ participation in no way implies their respective organizations’ endorsements of these programs.
In July, CESA will release a report on the State Leadership in Clean Energy Award (SLICE) winners that will highlight each of these programs with a case study. The report will be posted on CESA’s website at https://www.cesa.org/projects/state-leadership-in-clean-energy/2024-awards. This webpage will also contain information and registration links for a webinar series featuring the program managers of these exemplary programs. The webinars, which will take place in the summer and fall of 2024, will be free to attend and open to the public.
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About the Clean Energy States Alliance (CESA)
The Clean Energy States Alliance (CESA) is a leading US coalition of state energy agencies working together to advance the rapid expansion of clean energy technologies and bring the benefits of clean energy to all. Established in 2002, CESA is a national, member-supported nonprofit that works to develop and implement effective clean energy policies and programs. CESA’s members include many of the nation’s most innovative, successful, and influential implementers of clean energy policies. CESA facilitates the expansion of state clean energy policies by championing renewable energy, pioneering energy storage solutions, promoting energy equity, and enhancing resilience. For more than two decades, CESA has played a pivotal role in transitioning the US towards accessible, sustainable, clean energy solutions. Learn more at www.cesa.org.
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