NASEO Financing Committee: New York Plans to Launch $1 Billion Green Bank

NASEO Financing Committee Committee Chair Jeff Pitkin, Treasurer of the New York State Energy Research and Development Authority (NYSERDA), recently delivered a presentation on NYSERDA’s plan to launch a $1 billion New York Green Bank.  Launched in September 2013 by Governor Andrew A. Cuomo with a petition to use approximately $165 million in uncommitted funds for its initial capitalization, the Green Bank is expected to beoperational by early 2014 and will be operated as a division of NYSERDA.

This call also discussed Green Bank’s vision to accelerate deployment of energy efficiency and renewable energy by addressing barriers in financing, undertaking partnerships with private sector entities, and driving market confidence for the private sector to ultimately take on clean energy financing independently.