MONTPELIER — The Vermont Public Service Department (PSD) announced the formation of the Clean Energy Finance Collaborative. The collaborative is a voluntary group formed to improve the effectiveness of and significantly increase the state’s capacity for clean energy finance necessary to advance Vermont’s clean energy goals.
The effort is led by Riley Allen, Deputy Commissioner at the Department. Expanding access to affordable capital can help promote economic development, make Vermont more affordable, and advance toward legislative goals for renewable energy and energy efficiency. Vermont needs to accelerate progress on some targets, including long-standing legislative targets for improving the energy efficiency of 80,000 homes by 2020.
Called for in the Vermont 2016 Comprehensive Energy Plan and the Clean Energy Development Fund’s 2013 Strategic Plan, the collaborative builds on existing initiatives and works with Vermont institutions and partners to expand clean energy financing and investment in the state.
The collaborative includes 22 state and private organizations representing a range of residential and commercial market segments that include energy efficiency, renewable energy, utility and finance institution stakeholders. Potential areas for support include identifying financing tools for low and moderate-income borrowers, multi-family housing, small businesses, municipalities, universities, schools and hospitals. The group plans to meet quarterly.