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WED2021: CBN pussyfooting green - Punch Newspapers

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Green banks, explained

(Next City ) March 4, 2021
Solar panels are among the projects green banks could fund. Image by Jose G. Ortega Castro on Unsplash
A version of this article first appeared in Next City.
If you’ve ever looked at an electrical bill in New York or Connecticut, you may have noticed the vague-sounding “system benefit charge.” Right now in New York, it’s 0.5238 cents per kilowatt-hour for a $60 electric bill, all other taxes and fees included, the system benefit charge comes out to 77 cents. In Connecticut it hovers between $7-$10 a year per household.
Some, if not most, of those dollars end up in the state’s green bank. Only a few states and localities have a green bank, and not all of them are funded the same way. They’re not banks in the depository sense they don’t offer checking or savings accounts. Instead, they’re state-sponsored entities that use their dedicated funding sources to make loans, provide credit enhancements or use other financial ....

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What Is a Green Bank?

Why this little-known concept could be the key to financing the green future. ....

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