Establishing US Green Bank and Issuing Green Bonds for Clean Energy Investment.
This legislation establishes the United States Green Bank and authorizes the Treasury to issue up to $60 billion in Green Bonds. The primary goal is to significantly increase investment in clean energy and energy efficiency projects at the state and local levels, aiming for lower energy costs and the creation of long-term jobs. The Bank will not fund individual projects directly but will capitalize existing or new state and local clean energy financing institutions, making affordable financing available to low- and moderate-income families.
Key points
Energy Transition Funding: Creation of the US Green Bank to capitalize local and state green banks, boosting investment in clean energy and climate change mitigation projects.
Job Creation and Lower Costs: Investments are intended to improve Americans' standard of living by delivering clean electricity more efficiently and at lower cost, while creating high-paying, long-term jobs.
Green Bonds Issuance: The Treasury will issue Green Bonds, initially $10 billion, potentially increasing to $50 billion, fully guaranteed by the United States government.
Local Support Focus: The Bank will only provide financing support to Eligible Clean Energy Financing Institutions, not directly to individual projects, ensuring coordinated and efficient deployment of capital.
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