Turning Millions of Dollars into Billions for Renewable Energy, Energy Efficiency in Pennsylvania
How a Green Bank Could Help Pennsylvania Affordably Meet Its Clean Power Plan Goals:
Union of Concerned Scientists, February 4, 2016
HARRISBURG (February 4, 2016) – Creating a “green bank” in Pennsylvania could help the state affordably comply with new federal power plants rules by leveraging $135 million in public funds into $4.2 billion in private investments in renewable energy and energy efficiency over the next 15 years, according to a new analysis "Green Banks: Transforming Clean Energy Finance in Pennsylvania." In addition, a green bank in Pennsylvania could support the deployment of 780 megawatts of new solar power, save homes and businesses $375 million on their annual electricity bills due to energy efficiency investments, and reduce Pennsylvania’s carbon emissions by 4.8 million tons per year—the equivalent of taking more than 930,000 cars off the road—or 11 percent of the emission reductions that Pennsylvania must achieve to comply with the Clean Power Plan
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