July 21, 2015

First Local Jurisdiction to Create a Green Bank

Montgomery County recently became the first local jurisdiction in the country to create a Green Bank when the County Council unanimously approved Bill 18-15, sponsored by Councilmember Roger Berliner. A green bank is an innovative approach to low–cost financing to increase residential and commercial solar, support energy efficiency improvements and kick-start new green technologies.

Bill 18-15, Environmental Sustainability-Montgomery County Green Bank, authorizes County government to designate a green bank to promote investment in clean energy technologies. It also specifies the processes to designate a nonprofit corporation to function as a green bank, establishes a Green Bank Work Group and generally defines the nature and powers of a green bank.

See more in the news release.

Read about Montgomery County in the Brookings online piece “Green banking goes local.”