Cross-Sector

Green Banks

Green banks, often called “clean energy funds,” are institutions focused on financing clean energy adoption. They are public, quasi-public, or non-profit institutions that are established at the local, state, or national level. More than a dozen states have established a green bank, under several different structures, legislative directives, and funding sources. Many green banks are also community development financial institutions (CDFIs), which aim to direct funding toward low-income communities.

Green banks address clean energy market gaps and financial barriers and aim to attract private investment in clean energy and energy efficiency. They achieve this through direct financing, such as loans and co-investments, and market development activities, such as information sharing and partnership building. Programs financed by a green bank typically include clean energy and energy efficiency upgrades, climate-resilient infrastructure, water infrastructure, and waste management infrastructure.

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Glossary of Terms

States with Policy Enacted

In Progress

Partially Enacted

See States List

Key Resources

Glossary of Terms

Green Bank Movement Today

An interactive map that visualizes green banks by state in the context of their climate progress.

2023

Source:

Green Bank Movement

Green Banks: An Overview for Governors

An overview of what green banks are and how they operate, including how governors can establish green banks, financing mechanisms, state examples, and federal funding opportunities.

2023

Source:

National Governors Association

What is a Green Bank

A resource explaining what green banks are, how they work, and how they can be used to address climate change, alongside a map tracking green banks by state and a green banks resource list.

2024

Source:

Coalition for Green Capital

Green Banks

An explanation of what green banks are, how they operate, and how they can be utilized to mobilize funds to address clean energy issues, including state and local examples.

2024

Source:

U.S. EPA

Model Rules

Glossary of Terms

LPDD Model Law: Green Bank State and Local Legislation

Model statute to establish a green bank following the nonprofit model, taking its basic structure from legislation to establish the Nevada Clean Energy Fund.

2024

Source:

LPDD

Model States

Glossary of Terms

Connecticut

Connecticut Green Bank

2011

Establishing Policies

Minnesota

Minnesota Climate Innovation Finance Authority

2023

Establishing Policies

New York

NY Green Bank

2013

Establishing Policies

NY Green Bank

Nevada

Nevada Clean Energy Fund

2017

Establishing Policies

Glossary of Terms

Filters

Status	State Sort descending	Region	Components	Year Enacted
Not Enacted	Alabama	Southeast
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Enacted	Alaska	West		2024
Empty column	Alaska Sustainable Energy Corporation		Establishing Policies HB 273 (2024) Alaska Sustainable Energy Corporation (ASEC)	Empty column
Not Enacted	Arizona	Southwest
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Not Enacted	Arkansas	Southeast
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Enacted	California	West		1944
Empty column	California Infrastructure and Economic Development Bank		Establishing Policies California Government Code Title 6.7, Division 1, Chapter 1 section 63002 (1944) AB 78 (2020) California Infrastructure and Economic Development Bank	Empty column
Enacted	Colorado	West		2018
Empty column	Colorado Clean Energy Fund		Establishing Policies SB 21-230 (2021) Colorado Clean Energy Fund	Empty column
Enacted	Connecticut	Northeast		2011
Empty column	Connecticut Green Bank		Establishing Policies Public Act 11-80 (2011) Connecticut Green Bank	Empty column
Enacted	Delaware	Southeast		2007
Empty column	Energize Delaware		Establishing Policies SB 18 (2007) Energize Delaware	Empty column
Not Enacted	Florida	Southeast
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Not Enacted	Georgia	Southeast
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Enacted	Hawai‘i	West		2013
Empty column	Hawai‘i Green Infrastructure Authority		Establishing Policies Act 211 (2013) Hawai‘i Green Infrastructure Authority	Empty column
Not Enacted	Idaho	West
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Enacted	Illinois	Midwest		2021
Empty column	Illinois Finance Authority Climate Bank and the Clean Energy Jobs and Justice Fund		Establishing Policies SB 2408 (2021) Illinois Finance Authority Climate Bank and the Clean Energy Jobs and Justice Fund	Empty column
Not Enacted	Indiana	Midwest
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Enacted	Iowa	Midwest		2024
Empty column	Iowa Energy Fund		Establishing Policies Iowa Energy Fund	Empty column
Not Enacted	Kansas	Midwest
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Enacted	Kentucky	Southeast		2009
Empty column	Green Bank of Kentucky		Establishing Policies Green Bank of Kentucky	Empty column
Enacted	Louisiana	Southeast		2023
Empty column	Louisiana Clean Energy Fund		Establishing Policies Louisiana Clean Energy Fund	Empty column
Enacted	Maine	Northeast		2021
Empty column	Efficiency Maine Green Bank		Establishing Policies LD 1659 (2021) Efficiency Maine Green Bank	Empty column
Enacted	Maryland	Southeast		2008
Empty column	Maryland Clean Energy Center, which administers the Climate Catalytic Capital Fund		Establishing Policies HB 1337 (2008) SB 528 - Climate Solutions Now Act of 2022 (2022) Maryland Clean Energy Center	Empty column
Enacted	Massachusetts	Northeast		2023
Empty column	Massachusetts Community Climate Bank		Establishing Policies Governor Healey Announces Climate Bank (2023) Massachusetts Community Climate Bank	Empty column
Enacted	Michigan	Midwest		2009
Empty column	Michigan Saves		Establishing Policies Michigan Saves	Empty column
Enacted	Minnesota	Midwest		2023
Empty column	Minnesota Climate Innovation Finance Authority		Establishing Policies SF 3035 (2023) HF 2310 (2023) Minnesota Climate Innovation Finance Authority	Empty column
Not Enacted	Mississippi	Southeast
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Enacted	Missouri	Midwest		2010
Empty column	Missouri Clean Energy District		Establishing Policies RSMo 67.2800, et Seq. (2010) Missouri Clean Energy District	Empty column
Not Enacted	Montana	West
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Not Enacted	Nebraska	Midwest
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Enacted	Nevada	West		2017
Empty column	Nevada Clean Energy Fund		Establishing Policies SB 407 (2017) Nevada Clean Energy Fund	Empty column
Enacted	New Hampshire	Northeast		1983
Empty column	New Hampshire Clean Energy Fund		Establishing Policies RSA Chapter 126-L (1983) New Hampshire Clean Energy Fund	Empty column
Not Enacted	New Jersey	Northeast
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Enacted	New Mexico	Southwest		2023
Empty column	New Mexico Climate Investment Center		Establishing Policies New Mexico Climate Investment Center	Empty column
Enacted	New York	Northeast		2013
Empty column	NY Green Bank		Establishing Policies NY Green Bank	Empty column
Enacted	North Carolina	Southeast		2020
Empty column	North Carolina Clean Energy Fund		Establishing Policies North Carolina Clean Energy Fund	Empty column
Not Enacted	North Dakota	Midwest
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Not Enacted	Ohio	Midwest
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Not Enacted	Oklahoma	Southwest
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Not Enacted	Oregon	West
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Not Enacted	Pennsylvania	Northeast
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Enacted	Rhode Island	Northeast		1989
Empty column	Rhode Island Infrastructure Bank		Establishing Policies RI Gen. Laws § 46-12.2 (1989) Rhode Island Infrastructure Bank	Empty column
Not Enacted	South Carolina	Southeast
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Not Enacted	South Dakota	Midwest
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Not Enacted	Tennessee	Southeast
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Not Enacted	Texas	Southwest
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Not Enacted	Utah	West
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Not Enacted	Vermont	Northeast
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Not Enacted	Virginia	Southeast
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Not Enacted	Washington	West
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
Not Enacted	West Virginia	Southeast
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column
In-Progress	Wisconsin	Midwest		2023
Empty column	The Green Ribbon Commission on Clean Energy and Environmental Innovation is advising the Wisconsin Economic Development Corporation and Department of Administration on the establishment of a green bank, known as the "Green Innovation Fund"		Establishing Policies Executive Order 195 (2023) Green Ribbon Commission	Empty column
Not Enacted	Wyoming	West
Empty column	Green banks are public, quasi-public, or non-profit entities that use innovative financing to invest in climate solutions and attract private capital across various economic sectors.			Empty column

Green Banks

Key Resources

Model Rules

Model States

Green Banks By State