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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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Utility unveils pilot carbon-offset plan - Grand Rapids Business Journal

Utility unveils pilot carbon-offset plan
Madcap Coffee is first to join DTE’s Natural Gas Balance program.
Courtesy Madcap Coffee
As part of DTE Energy’s 2050 net zero commitment, DTE Gas announced that it will offer customers a new way to reduce their carbon footprint.
The program, called CleanVision Natural Gas Balance, is the first in the nation to include both carbon offsets and renewable natural gas.
The pilot program is approved by the Michigan Public Services Commission and was launched to the public in January.
Dan Brudzynski, DTE vice president of gas sales and supply, said the utility has a goal of 50,000 participating customers over the next decade, which will be equivalent to offsetting approximately 1 million metric tons of carbon out of the environment. ....

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