U.S. Green Bank Proposed

March 25, 2009

Email this story Print this post Add your comments

Companies seeking to add clean energy or energy efficiency projects may benefit if the Green Bank Act of 2009 is approved.

The act, which would create an independent, tax-exempt lending institution that is wholly owned by the government, was introduced March 24 by Rep. Chris Van Hollen (D- MD).

The Green Bank initially would be financed by $10 billion in Green Bonds by the U.S. Treasury, with a maximum of $50 billion in Green Bonds to be outstanding at any time, according to a press release.

Its mission would be provide financing for clean energy and energy efficiency projects in the U.S.

Van Hollen puts forth that the bank would advance national objectives, including:

moving toward a clean energy economy
job creation through the construction and operation of clean energy and energy efficiency project
abating climate change
energy independence from foreign sources, and
fostering long-term domestic manufacturing capacity in clean energy and energy efficiency technologies.

The Green Bank Act is co-sponsored by representatives David Loebsack (D-IA), Gabrielle Giffords (D-AZ), Earl Blumenauer (D-OR) and Madeleine Z. Bordallo (D-GU).

The Department of Energy already has promised to expedite funding for certain alternative energy loans.

Email this story Print this post Add your comments

Advertisers

Stay competitive through sustainability.

Find out how at the SAP Sustainability Resource Center. >>

Unclear about the EPA's new GHG Rule?

Learn how it could affect your business. >>

EPA mandatory emissions reporting starts Jan 1st

CSA Standards can help your organization get ready for compliance. Find out how. >>

Survey Results: Product Environmental Compliance Best Practices

How to achieve compliance at a significantly lower cost. Download the full report. >>

Join the Discussion

Recent Daily News [ see all ]

11/20/2009
11/19/2009
11/18/2009

Charts [ see all ]

European Paper Industry Cuts CO2 Emissions by 42% since 1990

S. America Takes Most Urgent View of Copenhagen Talks

Nike Tops Annual Climate Action Scores

Oceans May Trap more Carbon than Forests

Jobs

View All Jobs >> Post a Job >>

Comments and Discussions

Stevenson on News Corp. Taps Hara for Energy Efficiency, Environmental Management
"All of us should think of ways to save energy now. It is not a myth,..."

Trade Association on Trade Group on EPA Chemical Regs: ‘If Everything is a Priority, Then Nothing is a Priority’
"Seriously… that..."

Gary Markowitz on Supermarkets Tackle Emissions Reductions, Fuel Efficiency
"Supermarkets waste over 10 percent of their energy through improper..."

peter in ireland on Ontario May Follow California’s Lead on TV Energy Efficiency
"Governor Schwarzenegger is shooting himself in the foot! 1...."

Environmental Leader on S. America Takes Most Urgent View of Copenhagen Talks
"The survey respondents (the PDF report mentions 4,000 respondents in 38..."

Jake on UPS Trying New Hydraulic Hybrid Trucks
"A point of clarification: the Reuters press release referenced herein reports that 20 UPS will purchase..."

Custom Organic Shirts on S. America Takes Most Urgent View of Copenhagen Talks
"90% of North Americans believe it is urgent to get a global climate..."

Environmental Leader