If you’re looking to invest in a green energy project and are limited on funds, one of most practical ways you can invest would be through a green bank. Green banks are typically set up to help construction companies foster the growth of renewable energies including that of wind farms, bio fuel research, solar panels and more. Usually, this translates to funding development costs and green design – anything that can make facilities a little more energy efficient. In other words, many are set up to compete with traditional banks and interest rates on things like operating costs, environmental protection, green jobs, LEED standards and more.
Take the Green Bank of Kentucky for example. They are set up to pay for up-front costs of energy savings projects. The idea is that the money saved over the long haul will eventually pay for the initial loan. The consumer/company must request at least $50,000 in loan coverage. And like most green banks, loan assistants are certified in LEED requirements and can serve multiple green markets in light of their professional background. They have the ability to cater to the green sector and all that goes into sustainability. Likewise, they are promising for our economic future.
It’s been said that green banks are one of the many keys to rebuilding the American economy. In fact, Daniel Zwirn and Darrell West reference this directly in “Rebuilding America: The Role of Foreign Capital and Global Public Investors. (Brookings Report)” The authors mention that foreign capital from global public investors can help fund clean technology projects, as well as finance companies that can’t be served by the conventional project finance market (traditional loans).
Green banks are essential leading the way by example in that their opening new opportunities for emerging industrialized and market economies. The fact that they’re being built here in American could mean serious investment from these GPIs. For any company, non-profit or individual seeking greener facilities or looking to reduce their carbon footprint, green banks are a great alternative for traditional loans, and they’re ability to yield economic growth makes them even more of a viable option.
Editor’s note: This article was kindly provided by David Suntin. David is a web developer from New York who has completed a Master's Degree in Communication and has just founded his own design company Suntin Design LLC. His interest in green issues is purely philanthropic at present and he hopes to make a name for himself in the green blogosphere.
