Who We Are
The Connecticut Green Bank (“the Green Bank”) was established by the Governor and Connecticut’s General Assembly on July 1, 2011 through Public Act 11-80 as a quasi-public agency that supersedes the former Connecticut Clean Energy Fund. As the nation’s first state “Green Bank”, the Connecticut Green Bank leverages public and private funds to accelerate the growth of green energy in Connecticut.
The Connecticut Green Bank’s mission is to:
Develop innovative programs to finance and support green energy investment in residential, municipal, small business and larger commercial projects
- Support financing or other expenditures that promote investment in green energy sources to foster the growth, development and commercialization of green energy sources and related enterprises
- Stimulate demand for green energy and the deployment of green energy sources within the state that serves end-use customers in the state
- Lead the green bank movement by accelerating private investment in clean energy deployment for Connecticut to achieve economic prosperity, create jobs, promote energy security and address climate change
Governance and Funding
The Connecticut Green Bank's programs are funded from a variety of sources including a surcharge on residential and commercial electric bills, Regional Greenhouse Gas Initiative auction allowance proceeds, federal funds and grants, private capital in the form of contracts entered into with investors and other sources. The fund is overseen by the Connecticut Green Bank Board of Directors, which approves the Comprehensive Plan, policies, programs and funding. For a full description of the Green Bank's legislative mandate, see Section 16-245n of the Connecticut General Statutes by clicking here.
The state legislature requires the Connecticut Green Bank Board to develop a comprehensive plan that outlines strategies to support renewable energy sources and related enterprises, and to stimulate demand for renewable energy. Click here to download the CGB Comprehensive Plan for Fiscal Years 2015 and 2016.