Connecticut’s Solar Lease II program, which was finalized on June 28, will make solar leasing more economically competitive, accelerate the decline in the cost of solar energy, expand energy options for businesses, and make solar power more accessible to homeowners.
How can green banks collaborate internationally to scale up private financing to meet the challenge of climate change? A new international organization, the Green Bank Network, hopes to lead the way. During the Paris climate conference, six green banks and two nonprofit organizations jointly announced the opening of the network on Dec. 7. The network will accelerate clean energy installations and mobilize private investments worldwide.
What do leaders in the banking industry think about the potential of privately financing solar power, wind energy, and energy efficiency? In this interview, Michael Eckhart, managing director and global head of finance and sustainability at Citigroup, shares his optimism about the transition to clean energy and his observations about the persistent obstacles in the market – including the need to scale up financing for energy efficiency.
The phrase ‘low-income’ rarely appears in solar energy press coverage in the United States. But some enterprising organizations have set their sights on expanding the market for residential solar photovoltaics to include low-to-moderate-income communities. Three approaches – group discount programs, affordable leases, and community solar installations – are making solar power available to these communities in some states.
On the surface, Citi’s recommendations of global climate investment goals, published in August in the report “Energy Darwinism II: Why a Low Carbon Future Doesn’t Have to Cost the Earth,” look deceptively simple. But a closer look at the patchwork of international regulations, legislation, and carbon markets reveals that financing clean energy in developing nations may be quite challenging to accomplish.
Guess which part of the United States is so motivated to put a green bank in place that two legislative bills are competing to do the honors? It’s Massachusetts, which is considering two proposed green banks that would be very different from one another.