Energy News Network today provides an excellent overview of the movement to create a National Climate Bank, and highlights the success of existing institutions in proving the power of the Green Bank Model.

From the story:

The national proposal would create an independent nonprofit climate bank that would be capitalized with $35 billion in federal funds. Using proven techniques pioneered by the Connecticut Green Bank, the nation’s first, and New York Green Bank, one of the largest, the bank would be authorized to directly finance an array of clean energy projects, as well as to direct capital to state and local green banks. 

The story notes CGC’s assessment that the National Climate Bank could mobilize up to $1 trillion in clean energy investment over its 30-year chartered lifespan. This wave of capital would allow the Climate Bank to direct capital to state banks financing local and distributed energy projects, and also directly finance larger or more complicated projects like transmission lines or utility-scale energy projects. 

For more, see the full article by Lisa Prevost at Energy News Network.