Connecticut Green Bank
At a Glance
Industry
Financial Services and Insurance
Project Type
Commercial Energy Efficiency
Year
2016
Location
Hartford/Rocky Hill, CT
Summary
Theresa McCarty unlocked an extensive base of potential clients, supporting the Green Bank’s efforts to accelerate the growth of green energy in the commercial and industrial sector.
Goals
The Connecticut Green Bank, committed to making green energy accessible and affordable to businesses across the state, enlisted EDF Climate Corps fellow Theresa McCarty to act as a liaison to the DECD and its clients, assisting in communications and fostering a partnership. Theresa was tasked with helping to promote Energy On the Line, a limited-time grant program designed to help owner-occupied manufacturers lower energy costs through the use of C-PACE financing (Commercial Property Assessed Clean Energy) for renewable energy and energy efficiency improvements. The program’s goal is to approve at least 20 C-PACE projects at Connecticut manufacturing facilities by April 2017.
Solutions
To expand the reach of the Green Bank’s Energy On the Line program, Theresa educated municipal partners and their economic development teams on the benefits of C-PACE financing. As a way of generating leads for the program and promoting C-PACE financing through the Green Bank, she used DECD’s network of contacts to connect with business owners and other stakeholders, resulting in a number of new partnerships.
Theresa also examined energy and economic performance metrics and tailored them to unique stakeholder needs, which helped grow program application numbers, and identify subsectors (such as the prominent aerospace industry) as valuable targets. She expanded the program’s visibility by organizing meetings and presentations with industry affiliates, relevant stakeholders and government agencies. Recognizing how vital manufacturing is to the state’s economic well-being, Theresa identified untapped opportunities for improving the industry’s efficiency through green energy installations and upgrades. With a strong partnership and a targeted plan, the DECD and Connecticut Green Bank can work together to foster innovation and bolster economic competitiveness among municipalities throughout Connecticut.
Potential Impact
It would be in the state’s economic interest for the DECD and the Connecticut Green Bank to align their priorities on reducing the burden of energy costs on the manufacturing industry. Theresa presented to the Green Bank’s senior staff members her findings on how collaboration with the DECD can bring both organizations closer to meeting their common goals. Additionally, Theresa highlighted the importance of innovative financing solutions for energy upgrades, like C-PACE, as an critical piece in helping manufacturers realize cleaner, cheaper and more reliable energy, and in helping all businesses in Connecticut thrive.