SmartPower Voices Strong Support For The Coalition for Green Capital’s (CGC) Bid to Become the Nation’s Green Bank

Award-winning Non-profit organization, created in part by the Connecticut Green Bank, supports CGC’s Goals & Mission

ARLINGTON, VA, USA, October 16, 2023 /EINPresswire.com/ — Arlington, VA: SmartPower, the nations’ leading non-profit marketing firm dedicated to promoting clean energy and energy efficiency today voiced strong support for The Coalition for Green Capital and its efforts to become the nations’ Green Bank.

On Friday, the Coalition for Green Capital asked the Environmental Protection Agency (EPA) for funding from the Greenhouse Gas Reduction Fund (GGRF) that will enable it as a national green bank.

“For over two decades, SmartPower has worked closely with a number of state green banks. The creativity, the passion and the support from so many green banks has directly helped advance SmartPower and our mission. Now, to take the green bank model to a national scale, will be invaluable to our nation and our world.”

CGC seeks a total of $11.9 billion through four applications to the three separate programs within the Environmental Protection Agenicy’s Greenhouse Gas Reduction Fund (GGRF). CGC will use the funds to make direct investments and to fund a network of partners consisting of 16 state and local green banks and two national non-profit investors (obtaining a “sub-award” of CGC’s award) and an ever-expanding big green tent of a total of 191 partners, including developers, community benefit organizations, community lenders, and commercial and financial firms.

SmartPower intends to work in partnership with the Coalition for Green Capital to dramatically advance and scale its’ “Solarize” community outreach program. Solarize is SmartPower’s groundbreaking initiative that accelerates the adoption of solar photovoltaic (PV) systems in residential and small commercial buildings by directly engaging and educating residents where they live, work, play and pray.

With our partners at The Yale School of Environment and the Stern School of Business at NYU, SmartPower has consistently demonstrated the success of the Solarize “group buy” model leveraging the collective buying power of communities to negotiate competitive pricing for solar installations. By aggregating demand and streamlining the installation process, the program reduces costs, engenders trust, eliminates barriers, and makes solar energy more accessible to a broader range of people. All of which dovetails perfectly with the goals of CGC and a national green bank.

Indeed, should the Coalition for Green Capital be successful in their application to the EPA, the benefits are profound. Among them:

– Within one year of receiving funds, cause $35 billion in cumulative private-public investing in clean power projects;
– Make more than half of its investment in low-income and disadvantaged communities (LIDCs);
– Fund at least one economically self-sufficient green bank in every state;
– Fund a network of green banks and other community actors to transform markets and create clean energy benefits for everyone;
– Within seven years, cause more than $150 billion in cumulative public-private investing;
– By 2030 account for 4% of the Administration’s goal of cutting 2005 emissions levels in half; and
– By 2035 create 3.7 million new clean energy jobs.

“It’s simply astounding the impact that the Coalition for Green Capital will have as a national Green Bank,” concluded SmartPower’s Keane. “At a time of climate urgency and climate emergency, it’s clear that a huge part of the solution is to transform CGC into the nation’s Green Bank. And SmartPower will be by its side — with our new national Green Bank and the almost 200 partner organizations to “Solarize for All”. Together we’ll reduce our greenhouse gases while building our clean economy!”

About SmartPower:

SmartPower is a non-profit organizations created in 2002 and operates with a belief that today’s clean energy solutions require the same consumer marketing approaches as traditional brands. Among many of its award-winning programs, SmartPower has perfected the on-the-ground outreach campaign known as “Solarize”. www.smartpower.org

About the Coalition for Green Capital

The Coalition for Green Capital (CGC), operating as the American Green Bank Consortium, is a 501(c)(3) organization specifically chartered to reduce greenhouse gas emissions, combat other forms of air pollution, and address climate and energy-related environmental injustice. Green banks are a proven finance model that utilizes public and philanthropic funds to mobilize private investment in renewable energy, energy efficiency, and other decarbonization technologies. For more than a decade, the Coalition for Green Capital has been at the forefront of the Green Bank movement, collaborating at the federal, state, and local levels in the U.S. and internationally. Learn more at https://coalitionforgreencapital.com.

Brian F Keane
SmartPower
+1 202-674-7509
[email protected]
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