The Cadmus Group, Inc. (Cadmus) recently announced that the U.S. Department of Energy (DOE) had released a first-of-its kind report exploring mechanisms for encouraging private investment in clean energy, based on research and analysis conducted by a Cadmus-led team.
Energy Investment Partnerships: How State and Local Governments Are Engaging Private Capital to Drive Clean Energy Investments examines energy investment partnerships (EIPs, also known as green banks) adopted by eight states across the United States. EIPs are innovative financing mechanisms designed to stimulate and facilitate investment in clean energy through public-private partnerships. Cadmus was proud to lead the team of contributing authors that produced this report in collaboration with the Council of Development Finance Agencies (CDFA).
The report finds that programs in the states studied—California, Connecticut, Florida, Hawaii, New Jersey, New York, Ohio, and Oregon—were able to expand their impact beyond what would be possible with public funding alone by leveraging private capital. Furthermore, the evidence from these programs shows that EIPs allow for the creativity and flexibility necessary to meet the diverse needs of different states, regions, municipalities, and markets.
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