Green banks offer solution for clean energy financing

While many forms of renewable energy are steadily approaching competitive costs, financing remains a difficulty for many of these industries. OilPrice's Jen Alic suggests that the new trend toward "Green Banks" could provide a solution to the funding crunch if kept at the proper scale.

Green banks are intended as a public-private partnership similar to previous efforts like the Export-Import Bank of the United States and the Overseas Private Investment Corporation, which have successfully funneled funding into energy and infrastructure projects.

Some early attempts to create these banks, such as in the U.K., have been slowed by the ongoing sovereign debt crisis and resultant recession in the euro zone. However, examples in states like Connecticut have helped to combine private investment with existing public funds.

The Clean Energy Finance and Investment Authority is expected to issue its first loans later this year.

Meanwhile, Reuters reports that the U.K.'s long-suffering green bank is expected to begin full operation later this year, with former investor Shaun Kingsbury being announced as its head.

Research on the green energy market can be found at PennEnergy's Research area.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs